AquaBounty Technologies (NASDAQ:AQB) Shares Up 7% – Here’s What Happened

AquaBounty Technologies, Inc. (NASDAQ:AQB)’s share price was up 7% during mid-day trading on Friday . The company traded as high as $0.98 and last traded at $0.98. Approximately 21,332 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 62,198 shares. The stock had previously closed at $0.9157.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of AquaBounty Technologies in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, AquaBounty Technologies has a consensus rating of “Sell”.

AquaBounty Technologies Price Performance

The stock has a market cap of $5.05 million, a price-to-earnings ratio of -0.82 and a beta of 1.37. The business’s 50-day simple moving average is $0.99 and its two-hundred day simple moving average is $0.95.

Hedge Funds Weigh In On AquaBounty Technologies

An institutional investor recently raised its stake in AquaBounty Technologies stock. Renaissance Technologies LLC boosted its stake in AquaBounty Technologies, Inc. (NASDAQ:AQB) by 311.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,585 shares of the company’s stock after purchasing an additional 92,065 shares during the period. Renaissance Technologies LLC owned about 3.14% of AquaBounty Technologies worth $113,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.92% of the company’s stock.

About AquaBounty Technologies

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.