AquaBounty Technologies (NASDAQ:AQB) Stock Passes Below 50 Day Moving Average – Here’s Why

Shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.13 and traded as low as $1.11. AquaBounty Technologies shares last traded at $1.13, with a volume of 19,313 shares trading hands.

Analyst Ratings Changes

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

AquaBounty Technologies Stock Up 0.9%

The firm has a market cap of $5.87 million, a PE ratio of -1.39 and a beta of 1.45. The company’s 50 day moving average price is $1.14 and its two-hundred day moving average price is $1.02.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in AquaBounty Technologies stock. BlackRock Inc. bought a new stake in shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 47,528 shares of the company’s stock, valued at approximately $51,000. BlackRock Inc. owned about 0.92% of AquaBounty Technologies as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 8.92% of the company’s stock.

About AquaBounty Technologies

AquaBounty Technologies, Inc is a biotechnology and aquaculture company focused on developing sustainable methods for producing seafood. Its work centers on land-based, closed-containment aquaculture systems that use recirculating water technology to raise fish while reducing reliance on coastal sites and limiting exposure to environmental contaminants.

The company’s principal product is AquAdvantage Salmon, a genetically engineered Atlantic salmon developed to reach market size more quickly than conventional Atlantic salmon.