Neptune Insurance (NYSE:NP) Trading Up 9.5% – Should You Buy?

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) shot up 9.5% during trading on Friday . The stock traded as high as $19.84 and last traded at $19.9150. 91,046 shares were traded during trading, a decline of 77% from the average session volume of 403,144 shares. The stock had previously closed at $18.19.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NP. Mizuho upgraded shares of Neptune Insurance from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $24.00 in a research note on Wednesday, February 25th. Keefe, Bruyette & Woods raised Neptune Insurance from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $26.00 to $25.00 in a research report on Thursday, February 19th. Raymond James Financial set a $24.00 target price on Neptune Insurance in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Bank of America upgraded Neptune Insurance from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a report on Friday, February 20th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Neptune Insurance Stock Up 9.2%

The company has a market cap of $2.74 billion and a P/E ratio of 89.93. The company has a fifty day moving average of $23.24 and a 200 day moving average of $26.40.

Neptune Insurance (NYSE:NP) last posted its earnings results on Wednesday, February 18th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $43.77 million during the quarter, compared to the consensus estimate of $39.42 million.

Insider Buying and Selling

In other Neptune Insurance news, Director Michael Warren Vostrizansky purchased 23,000 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were acquired at an average cost of $21.50 per share, for a total transaction of $494,500.00. Following the completion of the transaction, the director owned 23,000 shares of the company’s stock, valued at approximately $494,500. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Institutional Trading of Neptune Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN purchased a new position in shares of Neptune Insurance during the 4th quarter valued at $28,000. PNC Financial Services Group Inc. purchased a new stake in Neptune Insurance in the 4th quarter worth $125,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance during the third quarter valued at about $171,000. Symmetry Investments LP purchased a new position in shares of Neptune Insurance in the fourth quarter valued at about $204,000. Finally, FJ Capital Management LLC purchased a new position in shares of Neptune Insurance in the fourth quarter valued at about $289,000.

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.