Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB) dropped 7.2% during trading on Friday . The stock traded as low as $2.98 and last traded at $2.98. Approximately 1,089,474 shares changed hands during trading, an increase of 58% from the average daily volume of 687,675 shares. The stock had previously closed at $3.21.
NEPT has been the subject of several analyst reports. BidaskClub cut Neptune Wellness Solutions from a “sell” rating to a “strong sell” rating in a research note on Saturday. Echelon Wealth Partners restated a “buy” rating on shares of Neptune Wellness Solutions in a research note on Wednesday, January 9th. Finally, Zacks Investment Research upgraded Neptune Wellness Solutions from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research note on Wednesday, March 13th.
Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last released its quarterly earnings results on Wednesday, February 13th. The biotechnology company reported ($0.04) EPS for the quarter. Neptune Wellness Solutions had a negative return on equity of 18.85% and a negative net margin of 60.48%. The company had revenue of $4.95 million for the quarter. On average, sell-side analysts expect that Neptune Wellness Solutions Inc will post 0.02 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in shares of Neptune Wellness Solutions by 25.0% during the fourth quarter. Parallel Advisors LLC now owns 20,000 shares of the biotechnology company’s stock worth $50,000 after purchasing an additional 4,000 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Neptune Wellness Solutions during the fourth quarter worth approximately $51,000. Wells Fargo & Company MN raised its stake in shares of Neptune Wellness Solutions by 236,363.6% during the third quarter. Wells Fargo & Company MN now owns 26,011 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 26,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Neptune Wellness Solutions by 696.0% during the third quarter. Renaissance Technologies LLC now owns 93,654 shares of the biotechnology company’s stock worth $363,000 after purchasing an additional 81,889 shares during the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of Neptune Wellness Solutions during the fourth quarter worth approximately $367,000. Institutional investors and hedge funds own 14.67% of the company’s stock.
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About Neptune Wellness Solutions (NASDAQ:NEPT)
Neptune Wellness Solutions Inc, a health and wellness products company, engages in the extraction, purification, and formulation of value-added differentiated science based products. It develops turnkey nutrition product solutions in various delivery forms. The company offers specialty ingredients, such as MaxSimil, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and various other marine and seed oils.
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