Aquabounty Technologies (NASDAQ:AQB) Rating Reiterated by HC Wainwright

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Aquabounty Technologies (NASDAQ:AQB)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued on Friday, TipRanks reports. They presently have a $3.50 price objective on the stock. HC Wainwright’s price target points to a potential upside of 29.63% from the stock’s previous close.

A number of other research analysts also recently issued reports on AQB. National Securities restated a “buy” rating and issued a $5.00 price objective on shares of Aquabounty Technologies in a research note on Thursday. ValuEngine cut shares of Aquabounty Technologies from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Lake Street Capital assumed coverage on Aquabounty Technologies in a report on Thursday, March 12th. They issued a “buy” rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $4.00.

Aquabounty Technologies stock opened at $2.70 on Friday. The firm has a market capitalization of $81.82 million, a price-to-earnings ratio of -4.25 and a beta of 0.87. The firm’s fifty day moving average price is $1.90 and its two-hundred day moving average price is $2.03. Aquabounty Technologies has a 1-year low of $1.52 and a 1-year high of $4.08. The company has a current ratio of 8.32, a quick ratio of 7.42 and a debt-to-equity ratio of 0.12.

Aquabounty Technologies (NASDAQ:AQB) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. On average, research analysts forecast that Aquabounty Technologies will post -0.37 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of AQB. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Aquabounty Technologies during the first quarter valued at approximately $31,000. UBS Group AG boosted its holdings in Aquabounty Technologies by 38.8% in the first quarter. UBS Group AG now owns 27,017 shares of the company’s stock valued at $44,000 after acquiring an additional 7,553 shares in the last quarter. BlackRock Inc. boosted its holdings in Aquabounty Technologies by 15.8% in the first quarter. BlackRock Inc. now owns 59,267 shares of the company’s stock valued at $97,000 after acquiring an additional 8,072 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Aquabounty Technologies during the 1st quarter valued at $105,000. Finally, Renaissance Technologies LLC bought a new position in Aquabounty Technologies in the 4th quarter worth $125,000. 43.66% 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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