Neptune Wellness Solutions (NASDAQ:NEPT) Trading 9.5% Higher

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Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB) shares traded up 9.5% during trading on Wednesday . The company traded as high as $3.71 and last traded at $3.68, 725,538 shares were traded during trading. A decline of 19% from the average session volume of 900,680 shares. The stock had previously closed at $3.36.

A number of analysts have commented on the stock. Echelon Wealth Partners reaffirmed a “buy” rating on shares of Neptune Wellness Solutions in a report on Wednesday, July 24th. Zacks Investment Research lowered shares of Neptune Wellness Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. ValuEngine raised shares of Neptune Wellness Solutions from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. BidaskClub lowered shares of Neptune Wellness Solutions from a “sell” rating to a “strong sell” rating in a report on Friday, September 20th. Finally, TheStreet lowered shares of Neptune Wellness Solutions from a “c-” rating to a “d+” rating in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Neptune Wellness Solutions has an average rating of “Hold” and an average target price of $5.50.

The company has a market cap of $310.63 million, a price-to-earnings ratio of -26.29 and a beta of 1.84. The firm’s fifty day moving average price is $3.80 and its 200-day moving average price is $4.29.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Neptune Wellness Solutions had a negative net margin of 107.62% and a negative return on equity of 23.18%. The firm had revenue of $3.26 million during the quarter, compared to analyst estimates of $4.51 million.

Several hedge funds have recently made changes to their positions in NEPT. Tower Research Capital LLC TRC grew its holdings in shares of Neptune Wellness Solutions by 265.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,929 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 7,214 shares during the period. Wells Fargo & Company MN increased its position in shares of Neptune Wellness Solutions by 19.4% during the second quarter. Wells Fargo & Company MN now owns 15,362 shares of the biotechnology company’s stock worth $67,000 after buying an additional 2,500 shares during the period. Royal Bank of Canada increased its position in shares of Neptune Wellness Solutions by 47.3% during the second quarter. Royal Bank of Canada now owns 15,948 shares of the biotechnology company’s stock worth $69,000 after buying an additional 5,121 shares during the period. Signition LP acquired a new stake in shares of Neptune Wellness Solutions during the second quarter worth $87,000. Finally, Jane Street Group LLC increased its position in shares of Neptune Wellness Solutions by 45.9% during the second quarter. Jane Street Group LLC now owns 22,598 shares of the biotechnology company’s stock worth $98,000 after buying an additional 7,106 shares during the period. 11.84% of the stock is owned by institutional investors.

Neptune Wellness Solutions Company Profile (NASDAQ:NEPT)

Neptune Wellness Solutions Inc, a health and wellness products company, specializes in the extraction, purification and formulation of cannabis products, as well as other specialty ingredients, such as MaxSimil, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and various other marine and seed oils.

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