Neptune Wellness Solutions Inc (NASDAQ:NEPT) Short Interest Down 21.3% in August

Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 4,810,000 shares, a drop of 21.3% from the August 15th total of 6,110,000 shares. Based on an average daily volume of 1,650,000 shares, the days-to-cover ratio is presently 2.9 days. Currently, 3.0% of the shares of the company are sold short.

Neptune Wellness Solutions stock opened at $0.57 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.05 and a quick ratio of 2.18. The stock has a fifty day moving average price of $0.70 and a two-hundred day moving average price of $1.10. Neptune Wellness Solutions has a 52-week low of $0.55 and a 52-week high of $3.60. The firm has a market capitalization of $96.04 million, a P/E ratio of -0.56 and a beta of 2.42.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last released its quarterly earnings data on Wednesday, August 11th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Neptune Wellness Solutions had a negative return on equity of 74.86% and a negative net margin of 344.98%. The firm had revenue of $10.08 million during the quarter, compared to analyst estimates of $8.87 million. On average, equities research analysts predict that Neptune Wellness Solutions will post -0.34 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Credit Suisse AG acquired a new stake in Neptune Wellness Solutions in the first quarter worth about $41,000. Morgan Stanley increased its position in Neptune Wellness Solutions by 31.8% in the second quarter. Morgan Stanley now owns 141,269 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 34,123 shares during the period. Cambria Investment Management L.P. increased its position in Neptune Wellness Solutions by 42.3% in the first quarter. Cambria Investment Management L.P. now owns 156,954 shares of the biotechnology company’s stock worth $206,000 after purchasing an additional 46,662 shares during the period. Geode Capital Management LLC increased its position in Neptune Wellness Solutions by 230.0% in the first quarter. Geode Capital Management LLC now owns 73,564 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 51,270 shares during the period. Finally, Resources Investment Advisors LLC. acquired a new stake in Neptune Wellness Solutions in the first quarter worth about $79,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Several research analysts have issued reports on the company. Alliance Global Partners dropped their price objective on Neptune Wellness Solutions from C$4.00 to C$1.50 and set a “buy” rating for the company in a research note on Tuesday, July 20th. Desjardins dropped their price objective on Neptune Wellness Solutions from C$1.10 to C$1.00 and set a “hold” rating for the company in a research note on Monday, August 16th. Finally, Zacks Investment Research upgraded Neptune Wellness Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday.

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.

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