Short Interest in Aquabounty Technologies Inc (AQB) Decreases By 53.5%

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Aquabounty Technologies Inc (NASDAQ:AQB) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 398,945 shares, a drop of 53.5% from the April 15th total of 857,416 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 155,547 shares, the days-to-cover ratio is currently 2.6 days.

Aquabounty Technologies stock opened at $2.14 on Monday. Aquabounty Technologies has a 52 week low of $1.51 and a 52 week high of $5.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.24 and a quick ratio of 7.10. The stock has a market cap of $46.22 million, a P/E ratio of -2.28 and a beta of 0.47.

Aquabounty Technologies (NASDAQ:AQB) last posted 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 business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.21 million. As a group, equities research analysts predict that Aquabounty Technologies will post -0.6 earnings per share for the current fiscal year.

AQB has been the subject of several recent research reports. HC Wainwright set a $4.00 price target on Aquabounty Technologies and gave the company a “buy” rating in a research report on Thursday, March 28th. Zacks Investment Research cut Aquabounty Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, National Securities reduced their target price on Aquabounty Technologies from $6.50 to $5.50 and set a “buy” rating for the company in a research report on Wednesday, March 20th.

Institutional investors have recently bought and sold shares of the stock. PFG Advisors purchased a new position in Aquabounty Technologies during the fourth quarter worth about $33,000. BlackRock Inc. lifted its stake in Aquabounty Technologies by 28.6% during the first quarter. BlackRock Inc. now owns 26,186 shares of the company’s stock worth $57,000 after purchasing an additional 5,830 shares during the last quarter. Actinver Wealth Management Inc. bought a new stake in Aquabounty Technologies during the fourth quarter worth about $69,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Aquabounty Technologies by 64.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 66,623 shares of the company’s stock worth $146,000 after purchasing an additional 26,203 shares during the last quarter. Finally, HighTower Advisors LLC bought a new stake in Aquabounty Technologies during the first quarter worth about $258,000. Institutional investors and hedge funds own 48.58% of the company’s stock.

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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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