Tearsheet

AquaBounty Technologies (AQB)


Market Price (6/20/2026): $0.966 | Market Cap: $4.4 MilSector: Consumer Staples | Industry: Agricultural Products & Services

AquaBounty Technologies (AQB)


Market Price (6/20/2026): $0.966
Market Cap: $4.4 Mil
Sector: Consumer Staples
Industry: Agricultural Products & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, Vegan & Alternative Foods, and Sustainable Consumption. Themes include Gene Editing & Therapy, Show more.

Weak multi-year price returns
2Y Excs Rtn is -85%, 3Y Excs Rtn is -159%

Penny stock
Mkt Price is 0.9

Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -3.1 Mil

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 78%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -472%

Key risks
AQB key risks include [1] severe financial distress and a liquidity crisis forcing the sale of core assets and intellectual property, Show more.

0 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, Vegan & Alternative Foods, and Sustainable Consumption. Themes include Gene Editing & Therapy, Show more.
1 Weak multi-year price returns
2Y Excs Rtn is -85%, 3Y Excs Rtn is -159%
2 Penny stock
Mkt Price is 0.9
3 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -3.1 Mil
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 78%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -472%
7 Key risks
AQB key risks include [1] severe financial distress and a liquidity crisis forcing the sale of core assets and intellectual property, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/19/2026

AquaBounty Technologies (AQB) stock has lost about 5% since 2/28/2026 because of the following key factors:

1. Deteriorating Financial Performance and Going Concern Warning in Fiscal Q1 2026.

AquaBounty Technologies reported a net loss of $1.2 million for fiscal Q1 2026, which ended March 31, 2026, a reversal from a $0.4 million profit in the comparable period of fiscal 2025. The company's cash reserves dwindled to $441 thousand by March 31, 2026, and it recorded a stockholders' deficit of $2.1 million. Management explicitly stated "substantial doubt" about AquaBounty's ability to continue as a going concern without securing new capital, signaling significant financial instability.

2. Strategic Pivot to Asset Liquidation and Exit from Fish Farming Operations.

The company has shifted its strategy from constructing recirculating aquaculture system (RAS) farms to focusing on selling non-core assets and monetizing its Ohio Farm Project. AquaBounty has ceased salmon rearing operations, having already sold its Indiana and Canadian farms, marking an operational exit from fish rearing and a fundamental change in its business model. The incomplete $145 million Ohio facility, stalled since June 2023 due to escalating costs, received a non-binding purchase offer, indicating the company's efforts to divest its last significant asset.

Show more
Updated on 6/19/2026

AquaBounty Technologies (AQB) stock has lost about 5% since 2/28/2026 because of the following key factors:

1. Deteriorating Financial Performance and Going Concern Warning in Fiscal Q1 2026.

AquaBounty Technologies reported a net loss of $1.2 million for fiscal Q1 2026, which ended March 31, 2026, a reversal from a $0.4 million profit in the comparable period of fiscal 2025. The company's cash reserves dwindled to $441 thousand by March 31, 2026, and it recorded a stockholders' deficit of $2.1 million. Management explicitly stated "substantial doubt" about AquaBounty's ability to continue as a going concern without securing new capital, signaling significant financial instability.

2. Strategic Pivot to Asset Liquidation and Exit from Fish Farming Operations.

The company has shifted its strategy from constructing recirculating aquaculture system (RAS) farms to focusing on selling non-core assets and monetizing its Ohio Farm Project. AquaBounty has ceased salmon rearing operations, having already sold its Indiana and Canadian farms, marking an operational exit from fish rearing and a fundamental change in its business model. The incomplete $145 million Ohio facility, stalled since June 2023 due to escalating costs, received a non-binding purchase offer, indicating the company's efforts to divest its last significant asset.

3. Dilutive Capital Raising Activities to Address Liquidity Challenges.

To combat its severe liquidity issues, AquaBounty engaged in several capital-raising efforts within the period. In February 2026, the company raised $1.15 million gross through the issuance of common stock and pre-funded warrants. Additionally, in April 2026, AquaBounty exchanged $4.3 million of high-interest Senior Notes into Series A Convertible Preferred Stock, which could lead to the conversion of up to 4.7 million common shares, representing potential significant dilution for existing shareholders. Further, in April and June 2026, the company secured an additional $0.5 million and $4 million, respectively, through funding agreements. These financing activities, while critical for short-term survival, often place downward pressure on a stock's value due to the dilutive effect on ownership.

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Stock Movement Drivers

Fundamental Drivers

The -3.1% change in AQB stock from 2/28/2026 to 6/19/2026 was primarily driven by a -15.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820266192026Change
Stock Price ($)0.970.94-3.1%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)45-15.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/19/2026
ReturnCorrelation
AQB-3.1% 
Market (SPY)9.2%10.9%
Sector (XLP)-6.9%11.9%

Fundamental Drivers

The -6.9% change in AQB stock from 11/30/2025 to 6/19/2026 was primarily driven by a -15.0% change in the company's Shares Outstanding (Mil).
(LTM values as of)113020256192026Change
Stock Price ($)1.010.94-6.9%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)45-15.0%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/19/2026
ReturnCorrelation
AQB-6.9% 
Market (SPY)9.9%6.6%
Sector (XLP)6.4%10.8%

Fundamental Drivers

The 14.6% change in AQB stock from 5/31/2025 to 6/19/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120256192026Change
Stock Price ($)0.820.9414.6%
Change Contribution By: 
Total Revenues ($ Mil)000.0%
P/S Multiple0.0%
Shares Outstanding (Mil)45-15.3%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/19/2026
ReturnCorrelation
AQB14.6% 
Market (SPY)28.1%12.3%
Sector (XLP)3.3%8.5%

Fundamental Drivers

The -90.3% change in AQB stock from 5/31/2023 to 6/19/2026 was primarily driven by a null change in the company's Total Revenues ($ Mil).
(LTM values as of)53120236192026Change
Stock Price ($)9.710.94-90.3%
Change Contribution By: 
Total Revenues ($ Mil)30 
P/S Multiple14.59.2233720368547763E17%
Shares Outstanding (Mil)45-15.9%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/19/2026
ReturnCorrelation
AQB-90.3% 
Market (SPY)85.7%8.4%
Sector (XLP)24.4%6.4%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
AQB Return-76%-64%-81%-78%48%10%-99%
Peers Return24%11%6%-13%1%22%56%
S&P 500 Return27%-19%24%23%16%8%98%

Monthly Win Rates [3]
AQB Win Rate8%33%25%17%42%50% 
Peers Win Rate58%56%47%42%47%53% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
AQB Max Drawdown-83%-74%-93%-82%-72%-30% 
Peers Max Drawdown-23%-32%-23%-26%-29%-15% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: BG, LMNR, AFRI, ADM, DAR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)

How Low Can It Go

EventAQBS&P 500
2025 US Tariff Shock
  % Loss-24.2%-18.8%
  % Gain to Breakeven31.9%23.1%
  Time to Breakeven5 days79 days
2024 Yen Carry Trade Unwind
  % Loss-38.4%-7.8%
  % Gain to Breakeven62.3%8.5%
  Time to Breakeven403 days18 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-46.3%-19.2%
  % Gain to Breakeven86.3%23.8%
  Time to Breakeven70 days105 days

Compare to BG, LMNR, AFRI, ADM, DAR

In The Past

AquaBounty Technologies's stock fell -24.2% during the 2025 US Tariff Shock. Such a loss loss requires a 31.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventAQBS&P 500
2025 US Tariff Shock
  % Loss-24.2%-18.8%
  % Gain to Breakeven31.9%23.1%
  Time to Breakeven5 days79 days
2024 Yen Carry Trade Unwind
  % Loss-38.4%-7.8%
  % Gain to Breakeven62.3%8.5%
  Time to Breakeven403 days18 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-46.3%-19.2%
  % Gain to Breakeven86.3%23.8%
  Time to Breakeven70 days105 days

Compare to BG, LMNR, AFRI, ADM, DAR

In The Past

AquaBounty Technologies's stock fell -24.2% during the 2025 US Tariff Shock. Such a loss loss requires a 31.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About AquaBounty Technologies (AQB)

AquaBounty Technologies (AQB) is a biotechnology company dedicated to improving productivity and efficiency within the commercial aquaculture industry, particularly in the United States and Canada. The company leverages advanced genetic, genomic, and fish health research to develop innovative solutions for sustainable fish farming.

Its flagship product is AquAdvantage Salmon, a specially bioengineered Atlantic salmon designed for human consumption, which grows to market size significantly faster than conventional salmon. AquaBounty also sells conventional Atlantic salmon, salmon eggs, fry, and byproducts. The primary customers for AquaBounty's offerings are within the commercial aquaculture sector across the United States and Canada, aiming to provide them with superior fish products and genetic solutions.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe AquaBounty Technologies (AQB):

  • Bayer Crop Science for aquaculture.
  • A biotechnology company like a food-focused Genentech or Amgen.

AI Analysis | Feedback

  • AquAdvantage Salmon: A bioengineered Atlantic salmon offered for human consumption.
  • Conventional Atlantic Salmon: Standard Atlantic salmon sold for human consumption.
  • Salmon Eggs: Eggs from salmon, typically sold for aquaculture.
  • Salmon Fry: Young salmon, often sold for further growth in aquaculture operations.
  • Salmon Byproducts: Materials derived from salmon processing.

AI Analysis | Feedback

Major Customers of AquaBounty Technologies (AQB)

AquaBounty Technologies (AQB) primarily operates on a business-to-business (B2B) model, selling its products to other companies within the commercial aquaculture and seafood supply chain. While the company does not publicly disclose the names of its specific major customers, its sales are directed towards the following categories of businesses:

  • Seafood Distributors: These companies purchase AquAdvantage Salmon and conventional Atlantic salmon from AquaBounty and distribute them to a wide range of clients, including retail grocery chains, restaurants, and other foodservice providers.
  • Wholesale Foodservice Providers: AquaBounty supplies salmon products to wholesalers who, in turn, sell to restaurants, hotels, institutional cafeterias, and other entities in the foodservice industry.
  • Retail Grocery Chains: Some sales may be made directly to large retail grocery chains, or indirectly through seafood distributors, for sale to individual consumers.
  • Other Aquaculture Farms: AquaBounty sells salmon eggs and fry to other commercial aquaculture operations that grow the fish to market size.

AI Analysis | Feedback

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AI Analysis | Feedback

David A. Frank Chief Financial Officer, Treasurer and Interim Chief Executive Officer

Mr. Frank was appointed Interim Chief Executive Officer of AquaBounty Technologies on December 6, 2024, in addition to his role as Chief Financial Officer and Treasurer, which he assumed in October 2007. He possesses over 28 years of financial-management experience and 17 years of experience in the seafood and aquaculture industries. His background includes serving as President and General Manager of TekCel LLC, a subsidiary of Magellan Biosciences, where he was also CFO of Magellan Biosciences since its founding in 2004 and TekCel's CFO since 2003. Mr. Frank also held the CFO position at SmartEnergy during a period of rapid growth, increasing revenue from under $1 million to over $45 million between 2000 and 2002. He was corporate controller for Moldflow during its successful public offering and held earlier financial roles at PerSeptive Biosystems, Lotus Development Corporation, Apollo Computer, and Honeywell. He has extensive experience with early-stage public and private companies, including completing financing transactions for initial start-up, growth, and mergers & acquisitions.

Chris Bucich Vice President, Facilities Construction & Continuous Improvement

Mr. Bucich is responsible for leading the complex buildout of AquaBounty's Ohio Farm. He has experience in enhancing end-to-end operational and corporate infrastructure through process improvements, applying lean six sigma and continuous improvement principles.

AI Analysis | Feedback

AquaBounty Technologies (AQB) has faced a confluence of critical challenges that have led to the cessation of its genetically engineered (GE) salmon production. The key risks that have impacted the business significantly are:
  1. Lack of Market and Consumer Acceptance: Despite regulatory approvals in the U.S. and Canada, AquaBounty's AquAdvantage Salmon encountered widespread consumer and retailer rejection. Major grocery retailers and food service companies committed to not selling the genetically engineered product, often due to public concerns and campaigning by environmental and Indigenous groups. This limited market access and demand proved to be a dominant impediment to commercial viability.
  2. Significant Financial Losses and Liquidity Issues: AquaBounty has a history of substantial net losses, amounting to $369 million since its incorporation, and has faced persistent financial instability. The company has struggled to raise sufficient capital to sustain operations, leading to the sale of assets, including its Indiana farm and Canadian facilities, and the halting of construction on its Ohio farm project. Ultimately, insufficient liquidity forced the company to wind down all fish farming operations and cull its remaining fish stock.
  3. Regulatory and Legal Challenges with Public Opposition: While AquAdvantage Salmon received initial regulatory approvals, these were often met with legal challenges. A U.S. federal judge ruled in 2020 that the FDA's approval violated environmental laws, requiring reassessment of potential environmental harms, such as the risk of genetically engineered salmon escaping and impacting wild populations. This ongoing regulatory scrutiny, combined with strong public and environmental advocacy against GE animals, created significant hurdles and contributed to the product's market difficulties.

AI Analysis | Feedback

The clear emerging threat for AquaBounty Technologies is the rapid advancement and potential commercialization of **cell-based (cultivated) seafood technologies**, particularly for salmon.

Companies in this space are developing methods to produce salmon meat directly from cells, bypassing traditional aquaculture entirely. If these technologies scale to become cost-competitive and palatable to consumers, they could fundamentally disrupt the aquaculture industry, including AquaBounty's niche of bioengineered salmon. This presents a new paradigm for seafood production that could render AquaBounty's enhanced farming methods less relevant, similar to how streaming services threatened DVD rental businesses.

AI Analysis | Feedback

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AquaBounty Technologies, Inc. (AQB) focuses on the commercial aquaculture industry, primarily with products related to Atlantic salmon. Their main product, AquAdvantage Salmon, is a bioengineered Atlantic salmon designed for human consumption, and they also sell conventional Atlantic salmon, salmon eggs, fry, and byproducts.

The addressable markets for products related to Atlantic salmon, which AquaBounty Technologies' offerings are designed to serve, include:

  • United States: The Atlantic salmon market in the United States was estimated to be approximately USD 993.85 million in 2025. This figure is derived from the total United States salmon market, which was valued at USD 1,529 million in 2025, with Atlantic salmon accounting for 65% of this market. The overall United States salmon market is projected to reach USD 2,030.97 million by 2034.
  • Canada: The total farmed finfish market in Canada, which is largely dominated by Atlantic salmon, was valued at $1.1 billion in 2023. Canada's exports of Atlantic salmon are significant, with the United States being the largest export market.
  • Global: The global Atlantic salmon market was valued at approximately USD 19.9 billion in 2023 and is projected to grow to about USD 26.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.1% during this forecast period.
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AI Analysis | Feedback

Here are 3 expected drivers of future revenue growth for AquaBounty Technologies (AQB) over the next 2-3 years:

  1. Increased Production Volume of AquAdvantage Salmon from the Ohio Facility: The successful completion and ramp-up of operations at the Ohio farm project are anticipated to be a primary driver of revenue growth. This facility is projected to have a significant annual production capacity of genetically engineered AquAdvantage Salmon, which would substantially increase the company's output for commercial sale.

  2. Expansion of Market Reach and Customer Base for AquAdvantage Salmon: As production capacity from facilities like the Ohio farm increases, AquaBounty is expected to expand its distribution networks and secure additional customers for its AquAdvantage Salmon within approved markets in the United States and Canada. This expansion aims to capture a larger share of the aquaculture market by leveraging the faster growth rate and efficiency of its product.

  3. Sales of Conventional Atlantic Salmon Eggs to Other Aquaculture Operators: While the company is restructuring some of its farming operations, its expertise in fish breeding and genetics, as well as its historical sales of conventional Atlantic salmon eggs, could continue to be a revenue stream. AquaBounty has previously secured significant orders for conventional eggs, indicating a market for this product that could be sustained or developed through partnerships or licensing of its genetic lines.

AI Analysis | Feedback

Share Issuance

  • AquaBounty Technologies announced a registered direct offering on February 12, 2026, for 1,269,509 shares of common stock and pre-funded warrants for 67,706 shares, anticipating approximately $1,150,000 in gross proceeds.
  • The number of shares outstanding for AquaBounty Technologies increased from approximately 3 million at the end of 2021 to 4 million by September 30, 2025.
  • Shareholders experienced substantial dilution in the past year, as noted in a March 13, 2026, report.

Inbound Investments

  • AquaBounty Technologies received $4 million in funding on November 4, 2025, through a transaction involving 9 investors who were issued securities under Regulation D.
  • The company has raised a total of $10 million in funding over nine rounds.
  • A "Conventional Debt" funding round occurred on October 28, 2025.

Capital Expenditures

  • In the 12 months leading up to March 6, 2026, AquaBounty Technologies' capital expenditures totaled -$256,277.
  • The company invested $256K in capital expenditures in Q4 2024, representing a 62.0% decrease from the previous quarter.
  • Capital allocation for expenditures has been directed towards the Ohio Farm Site, while the company announced plans to cease fish farming operations at its Bay Fortune hatchery in Canada in December 2024.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

AQBBGLMNRAFRIADMDARMedian
NameAquaBoun.Bunge Gl.LimoneiraForafric.Archer-D.Darling . 
Mkt Price0.94112.5813.0710.0575.1053.6833.38
Mkt Cap0.021.80.2-36.38.58.5
Rev LTM080,547132-80,5846,3066,306
Op Inc LTM-31,314-29-1,437473473
FCF LTM-7-1,161-33-4,793551-7
FCF 3Y Avg-3065-13-3,43050465
CFO LTM-7588-18-5,944964588
CFO 3Y Avg-141,527-1-4,821921921

Growth & Margins

AQBBGLMNRAFRIADMDARMedian
NameAquaBoun.Bunge Gl.LimoneiraForafric.Archer-D.Darling . 
Rev Chg LTM-56.9%-25.0%--3.9%11.1%3.6%
Rev Chg 3Y Avg-10.8%-9.8%--7.5%-2.7%-5.1%
Rev Chg Q-87.8%-31.9%-1.6%12.3%6.9%
QoQ Delta Rev Chg LTM-14.5%-7.8%-0.4%2.8%1.6%
Op Inc Chg LTM61.9%-5.9%-687.0%--10.9%52.1%-5.9%
Op Inc Chg 3Y Avg45.9%-11.0%-278.8%--27.8%-5.1%-11.0%
Op Mgn LTM-1.6%-21.8%-1.8%7.5%1.7%
Op Mgn 3Y Avg-3.0%-12.1%-2.5%6.7%2.8%
QoQ Delta Op Mgn LTM--0.2%-2.6%-0.0%0.8%-0.1%
CFO/Rev LTM-0.7%-13.8%-7.4%15.3%4.1%
CFO/Rev 3Y Avg-2.6%-1.5%-5.6%15.0%4.1%
FCF/Rev LTM--1.4%-25.1%-5.9%8.7%2.3%
FCF/Rev 3Y Avg-0.2%-9.2%-4.0%8.3%2.1%

Valuation

AQBBGLMNRAFRIADMDARMedian
NameAquaBoun.Bunge Gl.LimoneiraForafric.Archer-D.Darling . 
Mkt Cap0.021.80.2-36.38.58.5
P/S-0.31.8-0.51.40.9
P/Op Inc-1.416.6-8.1-25.318.016.6
P/EBIT-1.313.5-4.7-18.617.713.5
P/E-0.231.9-5.8-33.638.231.9
P/CFO-0.637.1-12.9-6.18.86.1
Total Yield-468.3%4.2%-15.5%-4.3%2.6%2.6%
Dividend Yield0.0%1.1%1.7%-1.4%0.0%1.1%
FCF Yield 3Y Avg-531.1%0.7%-4.9%-10.3%7.3%0.7%
D/E0.90.70.4-0.30.50.5
Net D/E0.80.70.4-0.30.50.5

Returns

AQBBGLMNRAFRIADMDARMedian
NameAquaBoun.Bunge Gl.LimoneiraForafric.Archer-D.Darling . 
1M Rtn-2.3%-5.6%2.3%0.4%-3.2%-9.0%-2.7%
3M Rtn-1.1%-4.1%-0.6%4.3%14.2%-2.6%-0.8%
6M Rtn10.6%24.5%-10.5%-7.1%30.8%56.2%17.5%
12M Rtn18.9%35.3%-10.8%29.2%43.5%39.2%32.2%
3Y Rtn-87.8%31.3%-13.0%-10.5%12.0%-11.2%-10.8%
1M Excs Rtn-11.6%-9.4%-1.1%-2.7%-6.8%-12.5%-8.1%
3M Excs Rtn-11.4%-20.7%-15.3%-8.5%-3.4%-19.0%-13.3%
6M Excs Rtn-0.9%13.2%-23.2%-18.8%21.1%42.9%6.1%
12M Excs Rtn-0.6%9.7%-35.9%4.1%17.8%13.6%6.9%
3Y Excs Rtn-158.6%-44.0%-87.7%-82.7%-60.0%-88.2%-85.2%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20232022202120202019
Genetically engineered (GE) Atlantic salmon231  
Non-genetically engineered (GE) Atlantic salmon and fry000  
Other revenue000  
Non-genetically engineered (GE) Atlantic salmon eggs000  
Product Revenues   00
Total23100


Net Income by Segment
$ Mil202520242023
Single segment18149-28
Total18149-28


Assets by Segment
$ Mil2016
Single segment6
Total6


Price Behavior

Price Behavior
Market Price$0.94 
Market Cap ($ Bil)0.0 
First Trading Date01/09/2017 
Distance from 52W High-67.0% 
   50 Days200 Days
DMA Price$0.97$1.09
DMA Trendupup
Distance from DMA-2.8%-14.1%
 3M1YR
Volatility63.2%97.3%
Downside Capture38.23156.55
Upside Capture16.61134.10
Correlation (SPY)16.0%12.9%
AQB Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta-1.201.060.650.491.100.61
Up Beta1.002.970.740.31-0.440.07
Down Beta-1.61-0.680.891.251.570.46
Up Capture-14%58%52%26%160%16%
Bmk +ve Days13283667141432
Stock +ve Days8202854109325
Down Capture-443%-150%49%35%134%110%
Bmk -ve Days7132757109318
Stock -ve Days11203366133407

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AQB
AQB18.7%97.1%0.59-
Sector ETF (XLP)6.3%13.0%0.218.5%
Equity (SPY)26.5%12.4%1.6112.7%
Gold (GLD)24.2%27.5%0.779.5%
Commodities (DBC)19.8%18.8%0.833.0%
Real Estate (VNQ)11.0%13.7%0.5210.7%
Bitcoin (BTCUSD)-40.0%42.5%-1.0814.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AQB
AQB-62.6%97.1%-0.59-
Sector ETF (XLP)6.0%13.4%0.237.2%
Equity (SPY)13.5%17.1%0.6216.4%
Gold (GLD)17.1%18.3%0.766.3%
Commodities (DBC)7.5%19.4%0.294.9%
Real Estate (VNQ)1.9%18.9%0.0017.4%
Bitcoin (BTCUSD)11.0%54.2%0.4012.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with AQB
AQB20.0%5,208.5%0.37-
Sector ETF (XLP)7.2%14.8%0.360.3%
Equity (SPY)15.3%18.0%0.730.6%
Gold (GLD)12.3%16.1%0.630.8%
Commodities (DBC)5.9%18.0%0.261.9%
Real Estate (VNQ)5.3%20.7%0.22-1.0%
Bitcoin (BTCUSD)60.0%66.8%1.00-6.8%

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Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity0.1 Mil
Short Interest: % Change Since 515202610.7%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest1.7 days
Basic Shares Quantity4.6 Mil
Short % of Basic Shares1.7%

Earnings Returns History

Updated 6/3/2026
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/2025-1.4%-17.6%-39.8%
8/5/2025-0.4%3.3%60.1%
5/15/20252.0%10.5%2.5%
3/27/2025-24.5%-32.4%-36.7%
11/5/20240.9%-10.7%-20.8%
8/6/2024-16.3%-19.9%-39.9%
5/15/2024-2.0%-5.4%-12.4%
11/7/202310.9%-19.5%19.5%
...
SUMMARY STATS   
# Positive687
# Negative151314
Median Positive1.7%4.1%19.5%
Median Negative-5.0%-17.5%-25.2%
Max Positive37.9%20.0%60.7%
Max Negative-24.5%-33.1%-45.6%
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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/28/2025-1.4%-17.6%-39.8%
8/5/2025-0.4%3.3%60.1%
5/15/20252.0%10.5%2.5%
3/27/2025-24.5%-32.4%-36.7%
11/5/20240.9%-10.7%-20.8%
8/6/2024-16.3%-19.9%-39.9%
5/15/2024-2.0%-5.4%-12.4%
11/7/202310.9%-19.5%19.5%
8/1/2023-9.6%-33.1%-28.0%
5/4/2023-3.0%-3.8%-28.3%
3/7/2023-10.1%-16.7%-22.3%
11/8/2022-5.0%10.5%-6.6%
8/9/2022-2.5%-6.3%-31.6%
5/5/2022-5.6%-17.5%5.6%
3/10/202237.9%20.0%32.9%
11/4/2021-6.2%-13.4%-45.6%
8/4/2021-3.6%2.1%-2.3%
5/4/20211.5%1.3%4.9%
3/9/2021-3.7%4.2%-4.2%
11/3/20200.0%4.1%60.7%
8/6/2020-18.0%-18.0%-2.3%
SUMMARY STATS   
# Positive687
# Negative151314
Median Positive1.7%4.1%19.5%
Median Negative-5.0%-17.5%-25.2%
Max Positive37.9%20.0%60.7%
Max Negative-24.5%-33.1%-45.6%

SEC Filings

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Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202503/31/202610-K
09/30/202510/28/202510-Q
06/30/202508/05/202510-Q
03/31/202505/15/202510-Q
12/31/202403/27/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/15/202410-Q
12/31/202304/01/202410-K
09/30/202311/07/202310-Q
06/30/202308/01/202310-Q
03/31/202305/04/202310-Q
12/31/202203/07/202310-K
09/30/202211/08/202210-Q
06/30/202208/09/202210-Q
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Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202503/31/202610-K
09/30/202510/28/202510-Q
06/30/202508/05/202510-Q
03/31/202505/15/202510-Q
12/31/202403/27/202510-K
09/30/202411/05/202410-Q
06/30/202408/06/202410-Q
03/31/202405/15/202410-Q
12/31/202304/01/202410-K
09/30/202311/07/202310-Q
06/30/202308/01/202310-Q
03/31/202305/04/202310-Q
12/31/202203/07/202310-K
09/30/202211/08/202210-Q
06/30/202208/09/202210-Q
03/31/202205/05/202210-Q
12/31/202103/10/202210-K
09/30/202111/04/202110-Q
06/30/202108/04/202110-Q
03/31/202105/04/202110-Q
12/31/202003/09/202110-K
09/30/202011/03/202010-Q
06/30/202008/06/202010-Q
03/31/202005/05/202010-Q
12/31/201903/10/202010-K
09/30/201911/05/201910-Q
06/30/201908/06/201910-Q
Core Cache Last Updated: 6/19/2026