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Thursday, November 26, 2020

The Forecast Just Changed on AquaBounty Technologies Inc. (NASDAQ:AQB)

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AquaBounty Technologies Inc. (AQB) shares are trading at higher $3.00 and the avg recommendation for the stock is Strong Buy.

To add more color to this target, the company’s high over the last year is $4.55 and the low is $1.52. Over the last 52 weeks, AQB is down -34.06% while the S&P 500 is up 0.22%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, AQB reported a profit of $-1.04 million. AquaBounty Technologies Inc. also saw revenues decrease to $3000.0. In addition, AQB has free cash flow of -$8.56 million as of 06-2020. The company’s EBITDA came in at -$3.15 million which compares well with its peers.

AQB Return on Equity (ROE) is -44.50%, and its Return on Assets is -36.50%. All told, it is clear that, AQB needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. AQB has a short ratio of 1.24 and outstanding shares of 32.10M.

Company Outlook

AQB has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.22 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.52. AquaBounty Technologies Inc. AQB also noted assets of $38.49 million at the end of the last quarter. Investors should also keep an eye on sector updates as AQB has historically followed its peers on positive news.

All told, AquaBounty Technologies Inc. AQB has strung together solid data and demonstrated underlying fundamentals. At its current valuation, AQB represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

AquaBounty Technologies Inc. AQB is now commanding a market cap of 127.29M and a float of 16.41M. AQB is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of AQB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in AQB, either long or short, and we have not been compensated for this article.

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