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H.C. Wainwright Thinks AquaBounty Technologies’ Stock is Going to Recover

H.C. Wainwright analyst Kevin Dede reiterated a Buy rating on AquaBounty Technologies (AQBResearch Report) today and set a price target of $4.50. The company’s shares closed last Thursday at $1.35, close to its 52-week low of $1.30.

According to TipRanks.com, Dede is a 1-star analyst with an average return of -1.7% and a 32.6% success rate. Dede covers the Technology sector, focusing on stocks such as WISeKey International Holding, Summit Wireless Technologies, and Mawson Infrastructure Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AquaBounty Technologies with a $6.25 average price target.

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Based on AquaBounty Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $417.7K and GAAP net loss of $6.07 million. In comparison, last year the company earned revenue of $50.2K and had a GAAP net loss of $6.12 million.

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AquaBounty Technologies, Inc. is a biotechnology company, which focuses on the enhancement and improvement of the productivity in commercial aquaculture. It uses genetic manipulation and other molecular biologic techniques in order to improve the quality and yield of fish stocks. The company was founded by Elliot Z. Entis and Garth L. Fletcher on December 17, 1991 and is headquartered in Maynard, MA.

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