Neptune Wellness Solutions (NASDAQ:NEPT) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Neptune Wellness Solutions (NASDAQ:NEPTFree Report) (TSE:NTB) in a research report report published on Monday. The brokerage issued a sell rating on the biotechnology company’s stock.

Neptune Wellness Solutions Price Performance

NASDAQ:NEPT opened at $0.44 on Monday. The firm has a 50-day moving average of $0.49 and a 200-day moving average of $4.14. The company has a market cap of $1.99 million, a PE ratio of 0.00 and a beta of 2.23. Neptune Wellness Solutions has a one year low of $0.36 and a one year high of $28.80.

Neptune Wellness Solutions (NASDAQ:NEPTGet Free Report) (TSE:NTB) last issued its quarterly earnings data on Tuesday, November 14th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($12.00) by $10.62. The firm had revenue of $8.74 million during the quarter. On average, equities research analysts expect that Neptune Wellness Solutions will post -43.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Neptune Wellness Solutions

In related news, major shareholder Securities Settlement Neptune sold 215,838 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $0.88, for a total transaction of $189,937.44. Following the sale, the insider now directly owns 2,128,453 shares in the company, valued at approximately $1,873,038.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 450,778 shares of company stock worth $368,645 over the last three months. 5.10% of the stock is currently owned by insiders.

Institutional Trading of Neptune Wellness Solutions

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted 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 valued at $196,000 after buying an additional 14,395 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Neptune Wellness Solutions during the 3rd quarter valued at approximately $43,000. Stifel Financial Corp purchased a new stake in Neptune Wellness Solutions in the 1st quarter worth approximately $41,000. Virtu Financial LLC lifted its stake in Neptune Wellness Solutions by 257.6% in 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. Finally, Morgan Stanley lifted 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 worth $172,000 after purchasing an additional 542,815 shares in the last quarter. 14.44% of the stock is currently owned by hedge funds and other institutional investors.

About Neptune Wellness Solutions

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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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