Neptune Wellness Solutions (NASDAQ:NEPT) Trading Down 7.3% on Disappointing Earnings

Shares of Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB) fell 7.3% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $4.47 and last traded at $4.47, 1,309,700 shares were traded during mid-day trading. An increase of 35% from the average session volume of 966,763 shares. The stock had previously closed at $4.82.

The biotechnology company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.03). Neptune Wellness Solutions had a negative return on equity of 19.34% and a negative net margin of 94.47%. The business had revenue of $3.26 million during the quarter, compared to analysts’ expectations of $4.51 million.

A number of brokerages have weighed in on NEPT. Echelon Wealth Partners reissued a “buy” rating on shares of Neptune Wellness Solutions in a research report on Wednesday, July 24th. Zacks Investment Research raised Neptune Wellness Solutions from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research report on Wednesday. Finally, BidaskClub lowered Neptune Wellness Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday.

Large investors have recently modified their holdings of the business. Two Sigma Advisers LP purchased a new stake in shares of Neptune Wellness Solutions during the 4th quarter valued at about $367,000. Deutsche Bank AG increased its position in shares of Neptune Wellness Solutions by 245.9% during the 4th quarter. Deutsche Bank AG now owns 517,135 shares of the biotechnology company’s stock valued at $1,313,000 after purchasing an additional 367,614 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Neptune Wellness Solutions during the 1st quarter valued at about $63,000. Alpine Group USVI LLC purchased a new stake in shares of Neptune Wellness Solutions during the 1st quarter valued at about $303,000. Finally, Signition LP purchased a new stake in shares of Neptune Wellness Solutions during the 2nd quarter valued at about $87,000. 12.22% of the stock is owned by institutional investors and hedge funds.

The stock has a market cap of $445.61 million, a PE ratio of -31.93 and a beta of 1.67. The company’s 50-day moving average price is $5.12 and its 200 day moving average price is $4.14.

Neptune Wellness Solutions Company Profile (NASDAQ:NEPT)

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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