AquaBounty Technologies (NASDAQ:AQB) Shares Pass Above 50 Day Moving Average – Here’s Why

Shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) passed 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of AquaBounty Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

AquaBounty Technologies Stock Performance

The firm has a market cap of $7.64 million, a P/E ratio of -1.81 and a beta of 1.39. The firm’s fifty day simple moving average is $1.03 and its 200 day simple moving average is $0.97.

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

Institutional Trading of AquaBounty Technologies

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of AquaBounty Technologies in the second quarter valued at $51,000. Two Sigma Investments LP bought a new stake in AquaBounty Technologies in the third quarter worth $84,000. Finally, Renaissance Technologies LLC raised its stake in AquaBounty Technologies by 311.9% during the fourth quarter. Renaissance Technologies LLC now owns 121,585 shares of the company’s stock valued at $113,000 after purchasing an additional 92,065 shares in the last quarter. 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.