Brokerages Expect Aquabounty Technologies Inc (AQB) Will Announce Quarterly Sales of $250,000.00

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Wall Street analysts expect that Aquabounty Technologies Inc (NASDAQ:AQB) will post sales of $250,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Aquabounty Technologies’ earnings, with the highest sales estimate coming in at $490,000.00 and the lowest estimate coming in at $10,000.00. Aquabounty Technologies posted sales of $50,000.00 during the same quarter last year, which indicates a positive year over year growth rate of 400%. The firm is expected to issue its next earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Aquabounty Technologies will report full year sales of $880,000.00 for the current year, with estimates ranging from $130,000.00 to $1.62 million. For the next fiscal year, analysts anticipate that the company will post sales of $3.08 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Aquabounty Technologies.

Aquabounty Technologies (NASDAQ:AQB) last released its earnings results on Thursday, May 2nd. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. Aquabounty Technologies had a negative return on equity of 44.38% and a negative net margin of 6,521.95%. The firm had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.21 million.

Several research analysts recently commented on AQB shares. National Securities lowered their target price on Aquabounty Technologies from $6.50 to $5.50 and set a “buy” rating for the company in a research note on Wednesday, March 20th. HC Wainwright set a $4.00 target price on Aquabounty Technologies and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research raised Aquabounty Technologies from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.

AQB traded up $0.02 on Thursday, hitting $2.12. 7,881 shares of the company were exchanged, compared to its average volume of 104,065. Aquabounty Technologies has a twelve month low of $1.51 and a twelve month high of $5.45. The stock has a market capitalization of $45.85 million, a price-to-earnings ratio of -2.26 and a beta of 0.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.24 and a quick ratio of 7.10.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AQB. Third Security LLC grew its stake in Aquabounty Technologies by 20.4% during the 4th quarter. Third Security LLC now owns 9,076,753 shares of the company’s stock worth $18,607,000 after purchasing an additional 1,538,461 shares in the last quarter. PFG Advisors acquired a new position in Aquabounty Technologies during the 4th quarter worth $33,000. Actinver Wealth Management Inc. acquired a new position in Aquabounty Technologies during the 4th quarter worth $69,000. Nikko Asset Management Americas Inc. acquired a new position in Aquabounty Technologies during the 1st quarter worth $352,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Aquabounty Technologies during the 1st quarter worth about $331,000. 47.75% of the stock is owned by hedge funds and other 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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