Neptune Wellness Solutions Inc (NASDAQ:NEPT) Sees Significant Increase in Short Interest

Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 7,660,000 shares, an increase of 21.0% from the August 30th total of 6,330,000 shares. Currently, 9.7% of the company’s shares are sold short. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 6.5 days.

Shares of Neptune Wellness Solutions stock traded down $0.01 on Friday, hitting $3.36. 267,763 shares of the company traded hands, compared to its average volume of 787,802. The stock’s 50 day moving average price is $3.96 and its 200-day moving average price is $4.27. Neptune Wellness Solutions has a 52 week low of $2.42 and a 52 week high of $6.57.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last posted its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.03). Neptune Wellness Solutions had a negative net margin of 107.62% and a negative return on equity of 23.18%. The company had revenue of $3.26 million for the quarter, compared to the consensus estimate of $4.51 million. On average, analysts forecast that Neptune Wellness Solutions will post 0.01 earnings per share for the current year.

Several analysts have issued reports on NEPT shares. Zacks Investment Research downgraded shares of Neptune Wellness Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. ValuEngine raised shares of Neptune Wellness Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Echelon Wealth Partners reissued a “buy” rating on shares of Neptune Wellness Solutions in a research note on Wednesday, July 24th. Finally, BidaskClub downgraded shares of Neptune Wellness Solutions from a “sell” rating to a “strong sell” rating in a research note on Friday, September 20th.

Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in shares of Neptune Wellness Solutions by 19.4% during the second quarter. Wells Fargo & Company MN now owns 15,362 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 2,500 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Neptune Wellness Solutions by 47.3% during the second quarter. Royal Bank of Canada now owns 15,948 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 5,121 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Neptune Wellness Solutions by 45.9% during the second quarter. Jane Street Group LLC now owns 22,598 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 7,106 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Neptune Wellness Solutions by 265.7% during the second quarter. Tower Research Capital LLC TRC now owns 9,929 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 7,214 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Neptune Wellness Solutions by 9.1% during the second quarter. Morgan Stanley now owns 208,980 shares of the biotechnology company’s stock valued at $909,000 after acquiring an additional 17,361 shares in the last quarter. 11.85% of the stock is owned by hedge funds and other institutional investors.

Neptune Wellness Solutions Company Profile

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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