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 report issued on Wednesday, ValuEngine reports.

Other equities analysts also recently issued research reports about the stock. 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 Aquabounty Technologies stock traded up $0.05 during trading on Wednesday, hitting $2.46. The company’s stock had a trading volume of 8,226 shares, compared to its average volume of 71,696. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.25 and a current ratio of 5.61. The company has a fifty day simple moving average of $2.21 and a two-hundred day simple moving average of $2.66. The company 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 released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.14) earnings per share 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, analysts predict that Aquabounty Technologies will post -0.59 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley raised its holdings in Aquabounty Technologies by 4.7% in the second quarter. Morgan Stanley now owns 179,028 shares of the company’s stock worth $550,000 after purchasing an additional 8,041 shares in the last quarter. Winthrop Advisory Group LLC purchased a new position in Aquabounty Technologies in the 4th quarter valued at $41,000. BlackRock Inc. increased its stake in shares of Aquabounty Technologies by 95.5% in the 2nd quarter. BlackRock Inc. now owns 51,195 shares of the company’s stock worth $158,000 after acquiring an additional 25,009 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in shares of Aquabounty Technologies by 17.6% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 373,874 shares of the company’s stock worth $935,000 after acquiring an additional 55,949 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Aquabounty Technologies by 17.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 373,874 shares of the company’s stock worth $935,000 after acquiring an additional 55,949 shares during the last quarter. 61.92% of the stock is owned by hedge funds and other 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.

Further Reading: S&P/TSX Index

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

Receive News & Ratings for Aquabounty Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aquabounty Technologies and related companies with MarketBeat.com's FREE daily email newsletter.