Nutriband (NASDAQ:NTRB) Stock Price Down 3.4% – What’s Next?

Nutriband Inc. (NASDAQ:NTRB)’s share price dropped 3.4% on Wednesday . The company traded as low as $3.41 and last traded at $3.41. Approximately 17,752 shares changed hands during mid-day trading, an increase of 84% from the average daily volume of 9,630 shares. The stock had previously closed at $3.53.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Nutriband from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Nutriband Price Performance

The company’s 50 day simple moving average is $3.75 and its 200 day simple moving average is $4.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.36 and a quick ratio of 6.21. The stock has a market cap of $41.22 million, a P/E ratio of -1.30 and a beta of 1.90.

Nutriband (NASDAQ:NTRB) last announced its quarterly earnings results on Thursday, June 11th. The company reported ($0.10) earnings per share (EPS) for the quarter. The business had revenue of $0.43 million during the quarter. Nutriband had a negative return on equity of 118.33% and a negative net margin of 403.98%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nutriband stock. Cogent Private Wealth Inc. purchased a new position in shares of Nutriband Inc. (NASDAQ:NTRB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 reporting period. Institutional investors and hedge funds own 19.70% of the company’s stock.

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. The company also develops other products, which include AVERSA buprenorphine and AVERSA methylphenidate; exenatide for type 2 diabetes; and follicle stimulating hormone for infertility.