Neptune Wellness Solutions (NASDAQ:NEPT) Downgraded by ValuEngine

ValuEngine lowered shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) from a buy rating to a hold rating in a research note released on Tuesday, ValuEngine reports.

NEPT has been the subject of several other reports. BidaskClub cut Neptune Wellness Solutions from a hold rating to a sell rating in a research note on Wednesday, August 28th. Echelon Wealth Partners reiterated a buy rating on shares of Neptune Wellness Solutions in a research note on Wednesday, July 24th. Finally, Zacks Investment Research cut Neptune Wellness Solutions from a buy rating to a hold rating in a research note on Tuesday, August 20th.

Shares of NEPT stock traded down $0.04 during trading on Tuesday, hitting $4.44. The company had a trading volume of 14,714 shares, compared to its average volume of 665,906. The firm has a market capitalization of $391.98 million, a P/E ratio of -32.28 and a beta of 1.85. The stock’s 50-day moving average price is $4.74 and its 200 day moving average price is $4.21. Neptune Wellness Solutions has a one year low of $2.42 and a one year high of $6.57.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last issued its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The company had revenue of $3.26 million during the quarter, compared to the consensus estimate of $4.51 million. Neptune Wellness Solutions had a negative net margin of 107.62% and a negative return on equity of 23.18%. On average, analysts predict that Neptune Wellness Solutions will post 0.01 EPS for the current year.

Several hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of Neptune Wellness Solutions by 19.4% in the second quarter. Wells Fargo & Company MN now owns 15,362 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 2,500 shares during the period. Royal Bank of Canada lifted its stake in Neptune Wellness Solutions by 47.3% during the second quarter. Royal Bank of Canada now owns 15,948 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 5,121 shares during the last quarter. Jane Street Group LLC lifted its stake in Neptune Wellness Solutions by 45.9% during the second quarter. Jane Street Group LLC now owns 22,598 shares of the biotechnology company’s stock worth $98,000 after purchasing an additional 7,106 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Neptune Wellness Solutions by 265.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,929 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 7,214 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Neptune Wellness Solutions by 9.1% during the second quarter. Morgan Stanley now owns 208,980 shares of the biotechnology company’s stock worth $909,000 after purchasing an additional 17,361 shares during the last quarter. Institutional investors and hedge funds own 11.86% of the company’s stock.

Neptune Wellness Solutions Company Profile

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.

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