AquaBounty Technologies (NASDAQ:AQB) Stock Crosses Below 50-Day Moving Average – Time to Sell?

AquaBounty Technologies, Inc. (NASDAQ:AQB)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.93 and traded as low as $0.8850. AquaBounty Technologies shares last traded at $0.9101, with a volume of 48,245 shares trading hands.

AquaBounty Technologies Price Performance

The company has a 50-day simple moving average of $0.93 and a 200-day simple moving average of $0.96. The firm has a market cap of $4.56 million, a PE ratio of -0.74 and a beta of 1.36.

AquaBounty Technologies (NASDAQ:AQB) last announced its earnings results on Thursday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in AquaBounty Technologies stock. Renaissance Technologies LLC raised its holdings in shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) by 311.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,585 shares of the company’s stock after buying an additional 92,065 shares during the period. Renaissance Technologies LLC owned about 3.14% of AquaBounty Technologies worth $113,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.92% of the company’s stock.

AquaBounty Technologies Company Profile

AquaBounty Technologies, Inc is a biotechnology company focused on aquaculture innovation through the development and commercialization of genetically engineered fish. Its flagship product, AquAdvantage Salmon, is an Atlantic salmon strain enhanced with a growth hormone gene that enables faster growth and more efficient feed conversion compared with conventional farmed salmon. By integrating biotechnology into seafood production, AquaBounty aims to address global protein demand while reducing the environmental footprint associated with marine aquaculture.

Founded in 1991, AquaBounty is headquartered in Maynard, Massachusetts, and operates a state-of-the-art, land-based incubation and grow-out facility in Panama.