Neptune Insurance (NYSE:NP) Share Price Passes Above 200-Day Moving Average – Here’s Why

Neptune Insurance Holdings Inc. (NYSE:NP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.51 and traded as high as $30.65. Neptune Insurance shares last traded at $30.44, with a volume of 488,103 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on NP. JPMorgan Chase & Co. assumed coverage on Neptune Insurance in a report on Monday, October 27th. They issued a “neutral” rating and a $25.00 target price for the company. Morgan Stanley boosted their price objective on shares of Neptune Insurance from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Cowen initiated coverage on shares of Neptune Insurance in a report on Monday, October 27th. They issued a “buy” rating for the company. BMO Capital Markets began coverage on Neptune Insurance in a research note on Monday, October 27th. They set a “market perform” rating and a $25.00 price target on the stock. Finally, Raymond James Financial initiated coverage on Neptune Insurance in a report on Monday, October 27th. They issued an “outperform” rating and a $30.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Neptune Insurance has a consensus rating of “Hold” and a consensus price target of $28.12.

Neptune Insurance Stock Up 4.1%

The company has a debt-to-equity ratio of 1.55, a current ratio of 2.01 and a quick ratio of 1.22. The firm’s 50-day moving average price is $25.61 and its 200 day moving average price is $29.51. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of -18.56 and a beta of 1.46.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Neptune Insurance had a positive return on equity of 11.06% and a negative net margin of 2.53%.The company had revenue of $44.37 million for the quarter, compared to analyst estimates of $42.58 million.

Insider Buying and Selling

In related news, major shareholder Hold 101 Lp Bsiv sold 820,123 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $18.75, for a total value of $15,377,306.25. Following the completion of the transaction, the insider owned 19,530,472 shares of the company’s stock, valued at approximately $366,196,350. The trade was a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Trevor R. Burgess purchased 50,000 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the chief executive officer directly owned 2,032,964 shares in the company, valued at $40,659,280. The trade was a 2.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 174,050 shares of company stock valued at $3,481,000. Company insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Neptune Insurance

Several institutional investors and hedge funds have recently modified their holdings of NP. Maltese Capital Management LLC acquired a new position in Neptune Insurance in the 3rd quarter valued at $3,200,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Neptune Insurance in the third quarter valued at $792,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Neptune Insurance in the third quarter valued at $171,000. Hedge funds and other institutional investors own 93.37% of the company’s stock.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.