Neptune Wellness Solutions (NASDAQ:NEPT) Trading Up 6.9%

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Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB)’s stock price was up 6.9% on Friday . The stock traded as high as $3.60 and last traded at $3.54, approximately 729,634 shares were traded during mid-day trading. A decline of 17% from the average daily volume of 874,848 shares. The stock had previously closed at $3.31.

Several analysts recently weighed in on NEPT shares. Desjardins reiterated a “buy” rating on shares of Neptune Wellness Solutions in a report on Wednesday. BidaskClub cut shares of Neptune Wellness Solutions from a “sell” rating to a “strong sell” rating in a report on Friday, September 20th. Echelon Wealth Partners reiterated a “buy” rating on shares of Neptune Wellness Solutions in a report on Wednesday, July 24th. Zacks Investment Research cut shares of Neptune Wellness Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Finally, TheStreet cut shares of Neptune Wellness Solutions from a “c-” rating to a “d+” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $5.50.

The stock’s fifty day moving average price is $3.54 and its 200 day moving average price is $4.27. The stock has a market cap of $312.62 million, a P/E ratio of -25.29 and a beta of 1.86.

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

A number of large investors have recently modified their holdings of the business. Morgan Stanley increased its position in shares of Neptune Wellness Solutions by 9.1% during the 2nd quarter. Morgan Stanley now owns 208,980 shares of the biotechnology company’s stock valued at $909,000 after purchasing an additional 17,361 shares during the last quarter. Jane Street Group LLC increased its position in shares of Neptune Wellness Solutions by 45.9% during the 2nd quarter. Jane Street Group LLC now owns 22,598 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 7,106 shares during the last quarter. Signition LP purchased a new stake in shares of Neptune Wellness Solutions during the 2nd quarter valued at about $87,000. Tower Research Capital LLC TRC increased its position in shares of Neptune Wellness Solutions by 265.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,929 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 7,214 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Neptune Wellness Solutions by 19.4% during the 2nd quarter. Wells Fargo & Company MN now owns 15,362 shares of the biotechnology company’s stock valued at $67,000 after purchasing an additional 2,500 shares during the last quarter. 11.84% of the stock is owned by institutional investors and hedge funds.

About Neptune Wellness Solutions (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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