Nutriband Inc. (NASDAQ:NTRB) Short Interest Down 20.9% in March

Nutriband Inc. (NASDAQ:NTRB) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 222,300 shares, a drop of 20.9% from the February 28th total of 281,200 shares. Currently, 4.4% of the shares of the stock are sold short. Based on an average daily volume of 201,300 shares, the days-to-cover ratio is currently 1.1 days.

Nutriband Price Performance

Shares of NASDAQ NTRB traded down $0.35 during mid-day trading on Tuesday, reaching $5.78. The company had a trading volume of 24,636 shares, compared to its average volume of 76,510. Nutriband has a 1-year low of $3.20 and a 1-year high of $11.78. The stock has a market cap of $64.19 million, a PE ratio of -8.14 and a beta of 1.12. The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $7.07 and a two-hundred day moving average price of $5.87.

Institutional Investors Weigh In On Nutriband

An institutional investor recently raised its position in Nutriband stock. Geode Capital Management LLC boosted its position in shares of Nutriband Inc. (NASDAQ:NTRB) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,435 shares of the company’s stock after acquiring an additional 4,372 shares during the period. Geode Capital Management LLC owned 0.56% of Nutriband worth $294,000 at the end of the most recent quarter. Institutional investors own 19.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Noble Financial assumed coverage on Nutriband in a research note on Wednesday, January 22nd. They set an “outperform” rating and a $13.00 target price for the company.

Nutriband Company Profile

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.