Neptune Insurance (NYSE:NP) Trading Down 9.6% – Time to Sell?

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price fell 9.6% on Thursday . The company traded as low as $17.28 and last traded at $17.39. 68,275 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 325,674 shares. The stock had previously closed at $19.23.

Wall Street Analyst Weigh In

NP has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Neptune Insurance in a research report on Monday, October 27th. They set a “neutral” rating and a $25.00 price target on the stock. Bank of America upped their target price on Neptune Insurance from $21.00 to $22.50 and gave the stock an “underperform” rating in a report on Thursday, November 13th. National Bank Financial set a $23.00 price target on Neptune Insurance in a research note on Monday, October 27th. Keefe, Bruyette & Woods assumed coverage on Neptune Insurance in a research note on Monday, October 27th. They set a “market perform” rating and a $26.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Neptune Insurance currently has an average rating of “Hold” and an average price target of $28.31.

Neptune Insurance Stock Down 10.2%

The stock has a market cap of $2.38 billion and a P/E ratio of 157.00. The firm has a 50 day simple moving average of $26.69 and a 200-day simple moving average of $28.12.

Neptune Insurance (NYSE:NP) last posted its earnings results on Wednesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The company had revenue of $44.37 million during the quarter, compared to analyst estimates of $42.58 million.

Hedge Funds Weigh In On Neptune Insurance

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Neptune Insurance during the 4th quarter worth about $125,000. FNY Investment Advisers LLC bought a new position in Neptune Insurance in the 3rd quarter valued at about $171,000. BIT Capital GmbH acquired a new stake in Neptune Insurance during the fourth quarter worth approximately $292,000. Picton Mahoney Asset Management acquired a new stake in Neptune Insurance during the fourth quarter worth approximately $411,000. Finally, Renaissance Technologies LLC bought a new stake in Neptune Insurance in the 4th quarter valued at $481,000.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.