Neptune Insurance (NYSE:NP) Shares Gap Up Following Analyst Upgrade

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price gapped up prior to trading on Thursday after Keefe, Bruyette & Woods upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $18.13, but opened at $21.65. Keefe, Bruyette & Woods now has a $25.00 price target on the stock. Neptune Insurance shares last traded at $21.08, with a volume of 156,812 shares changing hands.

Other equities research analysts have also issued research reports about the company. Raymond James Financial reiterated an “outperform” rating and issued a $23.00 target price on shares of Neptune Insurance in a research note on Tuesday. Evercore initiated coverage on shares of Neptune Insurance in a research report on Monday, October 27th. They issued an “outperform” rating and a $35.00 price objective for the company. TD Cowen assumed coverage on shares of Neptune Insurance in a research report on Monday, October 27th. They set a “buy” rating on the stock. National Bank Financial set a $23.00 target price on shares of Neptune Insurance in a research note on Monday, October 27th. Finally, Mizuho lifted their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock an “underperform” rating in a research note on Thursday, November 13th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Neptune Insurance has a consensus rating of “Hold” and a consensus target price of $27.08.

Institutional Trading of Neptune Insurance

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. acquired a new position in Neptune Insurance in the fourth quarter worth $125,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance during the third quarter valued at $171,000. Symmetry Investments LP acquired a new stake in shares of Neptune Insurance during the fourth quarter worth $204,000. Finally, FJ Capital Management LLC acquired a new stake in shares of Neptune Insurance during the fourth quarter worth $289,000.

Neptune Insurance Trading Up 16.1%

The stock’s 50-day moving average price is $26.01 and its 200-day moving average price is $27.65. The company has a market capitalization of $2.91 billion and a P/E ratio of 191.36.

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.