Short Interest in Neptune Insurance Holdings Inc. (NYSE:NP) Expands By 160.9%

Neptune Insurance Holdings Inc. (NYSE:NP) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 2,167,741 shares, a growth of 160.9% from the June 15th total of 830,875 shares. Based on an average daily trading volume, of 1,301,637 shares, the short-interest ratio is presently 1.7 days. Approximately 6.1% of the company’s shares are short sold.

Insider Buying and Selling at Neptune Insurance

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the completion of the sale, the insider directly owned 14,252,718 shares in the company, valued at $376,271,755.20. This represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $20,798,078.40. Following the completion of the transaction, the insider directly owned 16,310,781 shares in the company, valued at $430,604,618.40. This trade represents a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,317,604 shares of company stock valued at $298,784,746 over the last three months. Corporate insiders own 74.26% of the company’s stock.

Institutional Investors Weigh In On Neptune Insurance

A number of large investors have recently added to or reduced their stakes in NP. Bregal Sagemount IV General Partner Jersey Ltd acquired a new position in Neptune Insurance in the 4th quarter worth $569,509,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Neptune Insurance during the fourth quarter worth about $133,488,000. Vanguard Group Inc. acquired a new position in shares of Neptune Insurance in the fourth quarter worth about $47,063,000. Capital World Investors acquired a new position in shares of Neptune Insurance in the fourth quarter worth about $32,091,000. Finally, Balyasny Asset Management L.P. purchased a new position in Neptune Insurance in the fourth quarter valued at about $29,051,000.

Analyst Ratings Changes

A number of research firms have recently commented on NP. Wells Fargo & Company began coverage on Neptune Insurance in a report on Tuesday, June 30th. They issued an “overweight” rating and a $35.00 price objective on the stock. Bank of America boosted their target price on Neptune Insurance from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. JPMorgan Chase & Co. increased their target price on shares of Neptune Insurance from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $34.00 price target (up from $32.00) on shares of Neptune Insurance in a report on Wednesday, July 8th. Finally, Mizuho lifted their price target on shares of Neptune Insurance from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.18.

Neptune Insurance Stock Performance

Shares of NYSE:NP opened at $32.23 on Tuesday. The business’s 50-day simple moving average is $28.64 and its 200 day simple moving average is $25.89. The company has a market cap of $4.46 billion and a P/E ratio of 119.38. Neptune Insurance has a one year low of $14.78 and a one year high of $34.61.

Neptune Insurance (NYSE:NP) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $37.80 million during the quarter, compared to analysts’ expectations of $36.96 million. The business’s revenue was up 28.8% on a year-over-year basis. Analysts predict that Neptune Insurance will post 0.4 earnings per share for the current year.

Neptune Insurance Company Profile

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.