Aquabounty Technologies Inc (NASDAQ:AQB) Sees Significant Increase in Short Interest

Aquabounty Technologies Inc (NASDAQ:AQB) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 197,800 shares, a growth of 9.4% from the June 30th total of 180,800 shares. Based on an average daily trading volume, of 161,700 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.5% of the shares of the stock are sold short.

Shares of AQB opened at $3.05 on Friday. The company’s fifty day moving average is $3.36 and its 200 day moving average is $2.37. Aquabounty Technologies has a fifty-two week low of $1.52 and a fifty-two week high of $4.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 7.42 and a current ratio of 8.32.

Aquabounty Technologies (NASDAQ:AQB) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. As a group, sell-side analysts anticipate that Aquabounty Technologies will post -0.37 earnings per share for the current year.

Several equities analysts have recently commented on the stock. National Securities reissued a “buy” rating and issued a $5.00 target price on shares of Aquabounty Technologies in a report on Thursday, May 21st. HC Wainwright reissued a “buy” rating and issued a $3.50 target price on shares of Aquabounty Technologies in a report on Friday, June 12th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $4.00.

A number of institutional investors and hedge funds have recently made changes to their positions in AQB. Raymond James Financial Services Advisors Inc. bought a new position in Aquabounty Technologies during the second quarter valued at $42,000. HighTower Advisors LLC increased its position in Aquabounty Technologies by 57.7% during the first quarter. HighTower Advisors LLC now owns 165,005 shares of the company’s stock valued at $269,000 after acquiring an additional 60,405 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Aquabounty Technologies during the first quarter valued at $105,000. Morgan Stanley increased its position in Aquabounty Technologies by 7.7% during the first quarter. Morgan Stanley now owns 208,948 shares of the company’s stock valued at $341,000 after acquiring an additional 14,944 shares during the last quarter. Finally, Third Security LLC increased its position in Aquabounty Technologies by 57.0% during the first quarter. Third Security LLC now owns 14,253,912 shares of the company’s stock valued at $23,234,000 after acquiring an additional 5,177,159 shares during the last quarter. Institutional investors own 60.40% of the company’s stock.

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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