Aquabounty Technologies (AQB) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Aquabounty Technologies (NASDAQ:AQB) from a sell rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “AquaBounty Technologies, Inc. is a biotechnology company. It focused on enhancing productivity in aquaculture. The company operates primarily in Maynard, Massachusetts and Fortune, Prince Edward Island. AquaBounty Technologies, Inc. is based in Maynard, United States. “

Separately, HC Wainwright reaffirmed a buy rating and issued a $4.00 target price on shares of Aquabounty Technologies in a research report on Wednesday, August 8th.

Shares of Aquabounty Technologies stock opened at $2.82 on Thursday. Aquabounty Technologies has a one year low of $2.25 and a one year high of $9.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.36 and a quick ratio of 3.30.

Aquabounty Technologies (NASDAQ:AQB) last issued its earnings results on Tuesday, August 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The company had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.02 million. equities research analysts anticipate that Aquabounty Technologies will post -0.78 EPS for the current fiscal year.

An institutional investor recently raised its position in Aquabounty Technologies stock. ARK Investment Management LLC boosted its position in Aquabounty Technologies Inc (NASDAQ:AQB) by 81.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,697 shares of the company’s stock after buying an additional 76,458 shares during the period. ARK Investment Management LLC owned approximately 1.33% of Aquabounty Technologies worth $568,000 at the end of the most recent quarter. 62.42% of the stock is currently owned by institutional investors.

Aquabounty Technologies Company Profile

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.

See Also: Investing in Growth Stocks

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