Stock Groups

Should You Buy the Dip in AquaBounty Technologies? -Breaking

by Mike Robinson

[ad_1]

© Reuters. Are You a Buyer of the AquaBounty Technologies Dip?

Leading aquaculture company AquaBounty’s (AQB) shares declined in price last Friday after the company announced discounted pricing for its secondary offering of shares. The stock is also trading at a 52-week low after it has fallen in value over the last year. Also, considering the company’s negative cash flows, is the stock a buy on its recent dip? Continue reading. AquaBounty Technologies, Inc., NASDAQ:, Maynard, Mass. is an aquaculture leader that is dedicated to solving global problems with game-changing technologies. AquAdvantage salmon, an Atlantic salmon bioengineered for human consumption is its primary product. The stock currently trades well below its moving averages of 50 and 200 days, close to the 52-week low at $2.32. Stocks plunged after AQB disclosed the pricing for a secondary stock sale.

AQB offered 11,200,000 common stock shares at $2.10 each share. This is almost 33% less than the $3.12 closing prices on November 18, 2021. In addition, the issue’s underwriters have been granted a 30-day option to buy up to 1.6 million additional shares. It’s important to remember that AQB does not sell shares, and won’t receive proceeds from shares being offered by stockholders.

However, the stock looks still highly valued at current prices. AQB trades at 117.79x for forward price/sales. That’s 1,527.4% above the industry average of 7.24x.

Continue reading on StockNews

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]