Aquabounty Technologies (NASDAQ:AQB) Price Target Cut to $3.50 by Analysts at HC Wainwright

Aquabounty Technologies (NASDAQ:AQB) had its price target lowered by HC Wainwright from $3.75 to $3.50 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. HC Wainwright currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Aquabounty Technologies from a buy rating to a hold rating in a report on Thursday, March 5th. Lake Street Capital began coverage on shares of Aquabounty Technologies in a report on Thursday, March 12th. They set a buy rating and a $5.00 price objective on the stock. Zacks Investment Research lowered shares of Aquabounty Technologies from a buy rating to a hold rating in a research note on Tuesday, January 14th. Finally, National Securities reiterated a buy rating and issued a $5.00 price target on shares of Aquabounty Technologies in a research note on Wednesday, March 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Aquabounty Technologies presently has a consensus rating of Buy and a consensus price target of $4.00.

Shares of NASDAQ:AQB traded up $0.01 during midday trading on Thursday, reaching $1.84. 46,839 shares of the company were exchanged, compared to its average volume of 154,020. Aquabounty Technologies has a fifty-two week low of $1.52 and a fifty-two week high of $4.08. The company has a quick ratio of 1.92, a current ratio of 2.65 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $1.87 and a two-hundred day simple moving average of $2.22. The firm has a market cap of $58.53 million, a PE ratio of -2.74 and a beta of 1.03.

Aquabounty Technologies (NASDAQ:AQB) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Aquabounty Technologies had a negative return on equity of 49.03% and a negative net margin of 7,510.69%. The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.01 million.

In other news, insider David A. Frank acquired 35,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $1.50 per share, with a total value of $52,500.00. Following the transaction, the insider now directly owns 35,000 shares in the company, valued at approximately $52,500. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Randal J. Kirk acquired 5,175,000 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was purchased at an average cost of $1.50 per share, with a total value of $7,762,500.00. The disclosure for this purchase can be found here. Company insiders own 3.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Aquabounty Technologies during the 4th quarter worth about $125,000. KBC Group NV boosted its holdings in shares of Aquabounty Technologies by 14,582.1% during the 4th quarter. KBC Group NV now owns 62,399 shares of the company’s stock worth $135,000 after buying an additional 61,974 shares during the period. ARK Investment Management LLC raised its stake in Aquabounty Technologies by 8.6% in the 4th quarter. ARK Investment Management LLC now owns 406,682 shares of the company’s stock worth $882,000 after purchasing an additional 32,141 shares in the last quarter. Finally, Winthrop Advisory Group LLC acquired a new stake in Aquabounty Technologies in the 4th quarter worth about $41,000. 62.07% of the stock is owned by institutional investors.

Aquabounty Technologies Company Profile

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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