Neptune Wellness Solutions (NASDAQ:NEPT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Neptune Wellness Solutions Inc. is a diversified and fully integrated health and wellness company. It provides turnkey product development and supply chain solutions to business customers across several health and wellness verticals, including legal cannabis and hemp, nutraceuticals and white label consumer packaged goods. Neptune Wellness Solutions Inc. is headquartered in Laval, Quebec. “

Other equities research analysts also recently issued reports about the company. Alliance Global Partners cut their target price on Neptune Wellness Solutions from C$4.00 to C$1.50 and set a buy rating for the company in a research report on Tuesday, July 20th. Desjardins reduced their target price on Neptune Wellness Solutions from C$1.10 to C$1.00 and set a hold rating for the company in a report on Monday, August 16th.

Shares of NEPT stock opened at $0.61 on Wednesday. Neptune Wellness Solutions has a 12-month low of $0.55 and a 12-month high of $3.60. The firm has a market capitalization of $102.09 million, a price-to-earnings ratio of -0.60 and a beta of 2.42. The business has a 50 day simple moving average of $0.69 and a 200 day simple moving average of $1.09. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.05 and a quick ratio of 2.18.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Credit Suisse AG bought a new position in Neptune Wellness Solutions during the first quarter worth about $41,000. Resources Investment Advisors LLC. acquired a new stake in shares of Neptune Wellness Solutions during the first quarter worth approximately $79,000. Scotia Capital Inc. acquired a new stake in shares of Neptune Wellness Solutions in the second quarter valued at approximately $70,000. Geode Capital Management LLC increased its holdings in shares of 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 valued at $96,000 after purchasing an additional 51,270 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Neptune Wellness Solutions by 981.0% in the second quarter. Goldman Sachs Group Inc. now owns 139,978 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 127,029 shares in the last quarter. Institutional investors and hedge funds own 12.41% of the company’s stock.

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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