Aquabounty Technologies (NASDAQ:AQB) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Aquabounty Technologies (NASDAQ:AQB) from a hold rating to a buy rating in a research report released on Wednesday, ValuEngine reports.

AQB has been the topic of a number of other research reports. National Securities raised shares of Aquabounty Technologies from a neutral rating to a buy rating in a report on Monday. Zacks Investment Research downgraded shares of Aquabounty Technologies from a buy rating to a hold rating in a report on Tuesday.

Shares of NASDAQ AQB traded up $0.05 during trading on Wednesday, reaching $2.46. 8,226 shares of the company traded hands, compared to its average volume of 71,696. The firm has a 50 day simple moving average of $2.21 and a 200-day simple moving average of $2.66. The company has a quick ratio of 5.25, a current ratio of 5.61 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $57.47 million, a PE ratio of -2.61 and a beta of 1.03. Aquabounty Technologies has a 52-week low of $1.90 and a 52-week high of $5.45.

Aquabounty Technologies (NASDAQ:AQB) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Aquabounty Technologies had a negative net margin of 7,510.69% and a negative return on equity of 45.56%. As a group, research analysts predict that Aquabounty Technologies will post -0.59 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Aquabounty Technologies by 589.8% in the second quarter. Vanguard Group Inc. now owns 420,541 shares of the company’s stock worth $1,291,000 after buying an additional 359,574 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its holdings in Aquabounty Technologies by 17.6% during the third quarter. Nikko Asset Management Americas Inc. now owns 373,874 shares of the company’s stock valued at $935,000 after purchasing an additional 55,949 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Aquabounty Technologies by 17.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 373,874 shares of the company’s stock valued at $935,000 after purchasing an additional 55,949 shares in the last quarter. Morgan Stanley lifted its holdings in Aquabounty Technologies by 4.7% during the second quarter. Morgan Stanley now owns 179,028 shares of the company’s stock valued at $550,000 after purchasing an additional 8,041 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Aquabounty Technologies by 95.5% during the second quarter. BlackRock Inc. now owns 51,195 shares of the company’s stock valued at $158,000 after purchasing an additional 25,009 shares in the last quarter. 61.92% of the stock is currently owned by institutional investors.

About Aquabounty Technologies

AquaBounty Technologies, Inc, a biotechnology company, develops and markets products to enhance productivity in aquaculture. It offers AquAdvantage Salmon, a genetically modified Atlantic salmon for human consumption. The company was formerly known as Aqua Bounty Farms, Inc and changed its name to AquaBounty Technologies, Inc in June 2004.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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