Neptune Insurance Holdings Inc. (NYSE:NP) Given Average Recommendation of “Hold” by Brokerages

Neptune Insurance Holdings Inc. (NYSE:NP) has earned an average recommendation of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $28.3077.

Several research firms have issued reports on NP. Bank of America upped their price target on Neptune Insurance from $21.00 to $22.50 and gave the company an “underperform” rating in a report on Thursday, November 13th. BMO Capital Markets started coverage on shares of Neptune Insurance in a research note on Monday, October 27th. They issued a “market perform” rating and a $25.00 price objective for the company. Piper Sandler started coverage on Neptune Insurance in a report on Monday, October 27th. They set an “overweight” rating and a $33.00 price target on the stock. Morgan Stanley upped their target price on Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $32.50 target price on shares of Neptune Insurance in a research note on Wednesday, January 7th.

Neptune Insurance Trading Down 1.3%

Neptune Insurance stock opened at $24.96 on Wednesday. The company’s 50-day moving average price is $26.82 and its two-hundred day moving average price is $28.47. The stock has a market cap of $3.45 billion and a price-to-earnings ratio of 226.91. Neptune Insurance has a 52 week low of $22.00 and a 52 week high of $33.23.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $44.37 million during the quarter, compared to analysts’ expectations of $42.58 million.

Institutional Trading of Neptune Insurance

Institutional investors and hedge funds have recently made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust bought a new stake in Neptune Insurance during the 3rd quarter valued at approximately $792,000. Maltese Capital Management LLC bought a new position in Neptune Insurance during the third quarter worth $3,200,000. FNY Investment Advisers LLC acquired a new position in Neptune Insurance during the 3rd quarter valued at $171,000. Massachusetts Financial Services Co. MA acquired a new position in Neptune Insurance during the 4th quarter valued at $759,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Neptune Insurance during the fourth quarter valued at about $2,068,000.

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.