Neptune Insurance (NYSE:NP) Shares Gap Up on Analyst Upgrade

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) gapped up before the market opened on Thursday after Keefe, Bruyette & Woods upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $18.13, but opened at $21.65. Keefe, Bruyette & Woods now has a $25.00 price target on the stock, down from their previous price target of $26.00. Neptune Insurance shares last traded at $21.08, with a volume of 156,812 shares changing hands.

Several other brokerages have also recently commented on NP. Morgan Stanley raised their price objective on shares of Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Weiss Ratings started coverage on Neptune Insurance in a research report on Wednesday, December 24th. They issued a “sell (d)” rating for the company. Mizuho lifted their price objective on Neptune Insurance from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, Raymond James Financial restated an “outperform” rating and issued a $23.00 target price on shares of Neptune Insurance in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.69.

Institutional Trading of Neptune Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in NP. Wells Fargo & Company MN bought a new stake in shares of Neptune Insurance during the 4th quarter worth $28,000. PNC Financial Services Group Inc. bought a new position in shares of Neptune Insurance during the 4th quarter worth approximately $125,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance in the third quarter valued at $171,000. Symmetry Investments LP acquired a new position in Neptune Insurance during the 4th quarter worth approximately $204,000. Finally, FJ Capital Management LLC bought a new position in shares of Neptune Insurance in the 4th quarter worth $289,000.

Neptune Insurance Price Performance

The business’s fifty day moving average price is $25.88 and its 200-day moving average price is $27.60. The stock has a market capitalization of $2.83 billion and a price-to-earnings ratio of 186.36.

Neptune Insurance Company Profile

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.