AquaBounty Technologies (NASDAQ:AQB) Stock Passes Above 50 Day Moving Average – What’s Next?

AquaBounty Technologies, Inc. (NASDAQ:AQB) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.02 and traded as high as $1.5438. AquaBounty Technologies shares last traded at $1.50, with a volume of 125,574 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of AquaBounty Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

AquaBounty Technologies Stock Up 8.7%

The business has a fifty day simple moving average of $1.02 and a two-hundred day simple moving average of $0.97. The company has a market cap of $7.72 million, a P/E ratio of -1.83 and a beta of 1.39.

AquaBounty Technologies (NASDAQ:AQB) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.26) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On AquaBounty Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in AquaBounty Technologies during the second quarter valued at about $51,000. Renaissance Technologies LLC raised its stake in shares of AquaBounty Technologies by 311.9% in the fourth quarter. Renaissance Technologies LLC now owns 121,585 shares of the company’s stock worth $113,000 after buying an additional 92,065 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of AquaBounty Technologies during the 3rd quarter valued at about $84,000. 8.92% of the stock is currently owned by hedge funds and other institutional investors.

About AquaBounty Technologies

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.