Nutriband (NASDAQ:NTRB) Shares Up 2.3% – Should You Buy?

Nutriband Inc. (NASDAQ:NTRB) shot up 2.3% during mid-day trading on Tuesday . The company traded as high as $4.49 and last traded at $4.36. 8,478 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 14,876 shares. The stock had previously closed at $4.26.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Nutriband from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Nutriband Stock Up 2.3%

The company has a current ratio of 7.52, a quick ratio of 7.35 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $4.60 and its 200-day simple moving average is $5.90. The company has a market capitalization of $53.10 million, a PE ratio of -1.42 and a beta of 1.87.

Nutriband (NASDAQ:NTRB) last released its quarterly earnings data on Wednesday, December 10th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.13) by $1.81. Nutriband had a negative net margin of 560.89% and a negative return on equity of 133.22%. The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.68 million. As a group, equities research analysts anticipate that Nutriband Inc. will post -0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutriband

An institutional investor recently bought a new position in Nutriband stock. Cogent Private Wealth Inc. purchased a new stake in shares of Nutriband Inc. (NASDAQ:NTRB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,014 shares of the company’s stock, valued at approximately $73,000. Cogent Private Wealth Inc. owned approximately 0.13% of Nutriband at the end of the most recent quarter. Institutional investors and hedge funds own 19.70% of the company’s stock.

About Nutriband

Nutriband Inc develops a portfolio of transdermal pharmaceutical products. Its lead product in development is AVERSA fentanyl, an abuse deterrent fentanyl transdermal system that provides clinicians and patients with an extended-release transdermal fentanyl product for use in managing chronic pain requiring around the clock opioid therapy. The company also develops other products, which include AVERSA buprenorphine and AVERSA methylphenidate; exenatide for type 2 diabetes; and follicle stimulating hormone for infertility.