Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB)’s share price traded up 9.7% on Wednesday . The company traded as high as $4.65 and last traded at $4.65, 1,731,200 shares changed hands during mid-day trading. An increase of 85% from the average session volume of 937,459 shares. The stock had previously closed at $4.24.
NEPT has been the topic of a number of research reports. ValuEngine cut shares of Neptune Wellness Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research cut Neptune Wellness Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. BidaskClub downgraded Neptune Wellness Solutions from a “hold” rating to a “sell” rating in a report on Wednesday, August 28th. Finally, Echelon Wealth Partners restated a “buy” rating on shares of Neptune Wellness Solutions in a research report on Wednesday, July 24th.
The stock has a market capitalization of $392.90 million, a price-to-earnings ratio of -33.21 and a beta of 1.85. The stock has a 50 day moving average price of $4.74 and a 200 day moving average price of $4.21.
A number of institutional investors and hedge funds have recently bought and sold shares of NEPT. Alpine Group USVI LLC acquired a new position in Neptune Wellness Solutions in the 1st quarter valued at approximately $303,000. Signition LP bought a new stake in shares of Neptune Wellness Solutions in the second quarter worth $87,000. CIBC World Markets Inc. bought a new stake in shares of Neptune Wellness Solutions in the first quarter worth $63,000. Morgan Stanley increased its holdings in Neptune Wellness Solutions by 9.1% in the second quarter. Morgan Stanley now owns 208,980 shares of the biotechnology company’s stock valued at $909,000 after purchasing an additional 17,361 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Neptune Wellness Solutions by 265.7% in the second quarter. Tower Research Capital LLC TRC now owns 9,929 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 7,214 shares during the period. 11.86% of the stock is currently owned by hedge funds and other institutional investors.
About Neptune Wellness Solutions (NASDAQ:NEPT)
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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