Neptune Wellness Solutions (NASDAQ:NEPT) Issues Earnings Results, Beats Expectations By $10.62 EPS

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) announced its quarterly earnings data on Tuesday. The biotechnology company reported ($1.38) EPS for the quarter, beating analysts’ consensus estimates of ($12.00) by $10.62, reports. The firm had revenue of $8.74 million during the quarter. Neptune Wellness Solutions had a negative net margin of 71.09% and a negative return on equity of 263.45%.

Neptune Wellness Solutions Stock Performance

NEPT stock opened at $0.67 on Friday. The firm has a 50 day moving average of $7.44 and a 200-day moving average of $7.75. Neptune Wellness Solutions has a 12-month low of $0.62 and a 12-month high of $41.60. The company has a market cap of $407,024.40, a price-to-earnings ratio of -0.01 and a beta of 2.32.

Insider Activity

In other news, major shareholder Securities Settlement Neptune sold 74,000 shares of Neptune Wellness Solutions stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $0.81, for a total transaction of $59,940.00. Following the completion of the sale, the insider now directly owns 2,373,948 shares in the company, valued at approximately $1,922,897.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 172,996 shares of company stock worth $154,787. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Stifel Financial Corp purchased a new position in shares of Neptune Wellness Solutions during the 1st quarter worth approximately $41,000. Citadel Advisors LLC purchased a new position in shares of Neptune Wellness Solutions during the 3rd quarter worth approximately $43,000. Virtu Financial LLC increased its stake in shares of Neptune Wellness Solutions by 257.6% during the 1st quarter. Virtu Financial LLC now owns 554,376 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 399,362 shares in the last quarter. Morgan Stanley increased its stake in shares of Neptune Wellness Solutions by 26,898.7% during the 4th quarter. Morgan Stanley now owns 544,833 shares of the biotechnology company’s stock worth $172,000 after purchasing an additional 542,815 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Neptune Wellness Solutions by 12.6% during the 3rd quarter. Renaissance Technologies LLC now owns 128,684 shares of the biotechnology company’s stock worth $196,000 after purchasing an additional 14,395 shares in the last quarter. 14.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Neptune Wellness Solutions to a “sell” rating in a research report on Thursday, October 19th.

About Neptune Wellness Solutions

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.