StockNews.com Initiates Coverage on Neptune Wellness Solutions (NASDAQ:NEPT)

Analysts at StockNews.com assumed coverage on shares of Neptune Wellness Solutions (NASDAQ:NEPT – Get Rating) (TSE:NTB) in a research note issued on Wednesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Neptune Wellness Solutions Trading Down 7.7 %

Shares of NASDAQ NEPT opened at $0.18 on Wednesday. The company’s fifty day moving average is $0.48 and its 200-day moving average is $0.58. The stock has a market cap of $2.20 million, a price-to-earnings ratio of -0.02 and a beta of 2.11. Neptune Wellness Solutions has a twelve month low of $0.11 and a twelve month high of $6.12. The company has a quick ratio of 0.38, a current ratio of 0.95 and a debt-to-equity ratio of 1.00.

Neptune Wellness Solutions (NASDAQ:NEPT – Get Rating) (TSE:NTB) last issued its quarterly earnings data on Thursday, March 30th. The biotechnology company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.40. Neptune Wellness Solutions had a negative net margin of 125.83% and a negative return on equity of 93.21%. The business had revenue of $12.21 million for the quarter, compared to analyst estimates of $13.15 million. Equities research analysts predict that Neptune Wellness Solutions will post -9.42 EPS for the current year.

Institutional Investors Weigh In On Neptune Wellness Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC raised its holdings in shares of Neptune Wellness Solutions by 257.6% during the first quarter. Virtu Financial LLC now owns 554,376 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 399,362 shares during the period. Morgan Stanley increased its stake in Neptune Wellness Solutions by 26,898.7% in the 4th quarter. Morgan Stanley now owns 544,833 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 542,815 shares during the last quarter. Renaissance Technologies LLC increased its stake in Neptune Wellness Solutions by 12.6% in the 3rd quarter. Renaissance Technologies LLC now owns 128,684 shares of the biotechnology company’s stock valued at $196,000 after buying an additional 14,395 shares during the last quarter. Stifel Financial Corp acquired a new stake in Neptune Wellness Solutions in the 1st quarter valued at $41,000. Finally, Citadel Advisors LLC acquired a new stake in Neptune Wellness Solutions in the 3rd quarter valued at $43,000. 5.07% of the stock is currently owned by institutional investors and hedge funds.

About Neptune Wellness Solutions

(Get Rating)

Neptune Wellness Solutions Inc, a health and wellness products company, specializes in the extraction, purification and formulation of cannabis products, as well as other specialty ingredients, such as MaxSimil, a patented ingredient that enhances the absorption of lipid-based nutraceuticals, and various other marine and seed oils.