Zacks: Aquabounty Technologies Inc (AQB) Receives Consensus Recommendation of “Strong Buy” from Analysts

Shares of Aquabounty Technologies Inc (NASDAQ:AQB) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a 12-month consensus target price of $3.75 for the company and are forecasting that the company will post ($0.20) EPS for the current quarter, according to Zacks. Zacks has also assigned Aquabounty Technologies an industry rank of 86 out of 255 based on the ratings given to its competitors.

Several equities research analysts have weighed in on AQB shares. Zacks Investment Research lowered shares of Aquabounty Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. HC Wainwright reiterated a “buy” rating and issued a $4.00 target price on shares of Aquabounty Technologies in a report on Wednesday, August 8th.

AQB stock traded down $0.34 during midday trading on Friday, reaching $3.00. The company’s stock had a trading volume of 2,148 shares, compared to its average volume of 23,312. Aquabounty Technologies has a 52 week low of $2.25 and a 52 week high of $9.99. The stock has a market cap of $39.57 million, a PE ratio of -2.93 and a beta of -2.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.30 and a current ratio of 3.36.

Aquabounty Technologies (NASDAQ:AQB) last posted its earnings results on Tuesday, August 7th. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.03). The business had revenue of $0.05 million for the quarter, compared to the consensus estimate of $0.02 million. As a group, sell-side analysts predict that Aquabounty Technologies will post -0.78 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Aquabounty Technologies stock. ARK Investment Management LLC grew its position in Aquabounty Technologies Inc (NASDAQ:AQB) by 81.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,697 shares of the company’s stock after purchasing an additional 76,458 shares during the period. ARK Investment Management LLC owned about 1.33% of Aquabounty Technologies worth $568,000 at the end of the most recent reporting period. 62.42% of the stock is owned by 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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