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

Zacks Investment Research lowered shares of Neptune Wellness Solutions (NASDAQ:NEPTGet Rating) (TSE:NTB) from a buy rating to a hold rating in a report published on Wednesday, 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. “

Separately, StockNews.com began coverage on Neptune Wellness Solutions in a report on Monday. They set a sell rating on the stock.

NASDAQ NEPT opened at $0.20 on Wednesday. Neptune Wellness Solutions has a one year low of $0.19 and a one year high of $1.58. The stock’s 50 day simple moving average is $0.27 and its 200 day simple moving average is $0.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.07 and a current ratio of 1.75.

Neptune Wellness Solutions (NASDAQ:NEPTGet Rating) (TSE:NTB) last released its quarterly earnings results on Thursday, February 10th. The biotechnology company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.03). Neptune Wellness Solutions had a negative return on equity of 73.19% and a negative net margin of 207.14%. The business had revenue of $14.63 million for the quarter, compared to the consensus estimate of $13.64 million. As a group, equities research analysts forecast that Neptune Wellness Solutions will post -0.32 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of NEPT. Goldman Sachs Group Inc. lifted its stake in shares of Neptune Wellness Solutions by 2,047.4% in the 3rd quarter. Goldman Sachs Group Inc. now owns 3,005,884 shares of the biotechnology company’s stock valued at $1,817,000 after purchasing an additional 2,865,906 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Neptune Wellness Solutions by 5.1% in the 4th quarter. Penserra Capital Management LLC now owns 2,526,460 shares of the biotechnology company’s stock valued at $1,035,000 after purchasing an additional 123,356 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Neptune Wellness Solutions by 9.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,254,791 shares of the biotechnology company’s stock valued at $514,000 after purchasing an additional 103,670 shares during the period. Morgan Stanley lifted its stake in shares of Neptune Wellness Solutions by 256.1% in the 3rd quarter. Morgan Stanley now owns 503,122 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 361,853 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Neptune Wellness Solutions in the 4th quarter valued at $184,000. 11.72% of the stock is currently owned by hedge funds and other institutional investors.

Neptune Wellness Solutions Company Profile (Get Rating)

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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