Neptune Wellness Solutions (NASDAQ:NEPT) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) from a buy rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Neptune Wellness Solutions Inc. operates as a nutrition supplement company. It develops and produces cannabis products, marine oils, seed oils and pet supplements. Neptune Wellness Solutions Inc., formerly known as Neptune Technologies & Bioressources Inc., is headquartered in Laval, Canada. “

NEPT has been the topic of a number of other reports. Echelon Wealth Partners reiterated a buy rating on shares of Neptune Wellness Solutions in a research note on Wednesday, July 24th. BidaskClub lowered shares of Neptune Wellness Solutions from a buy rating to a hold rating in a research note on Tuesday, August 13th.

Neptune Wellness Solutions stock opened at $4.13 on Tuesday. The firm’s fifty day simple moving average is $5.12 and its 200-day simple moving average is $4.16. Neptune Wellness Solutions has a 1-year low of $2.42 and a 1-year high of $6.57.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last released its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Neptune Wellness Solutions had a negative net margin of 107.62% and a negative return on equity of 23.18%. The business had revenue of $3.26 million for the quarter, compared to the consensus estimate of $4.51 million. On average, research analysts expect that Neptune Wellness Solutions will post 0.01 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP acquired a new position in Neptune Wellness Solutions in the 4th quarter valued at $367,000. Deutsche Bank AG grew its stake in Neptune Wellness Solutions by 245.9% in the 4th quarter. Deutsche Bank AG now owns 517,135 shares of the biotechnology company’s stock valued at $1,313,000 after buying an additional 367,614 shares during the last quarter. Alpine Group USVI LLC acquired a new position in Neptune Wellness Solutions in the 1st quarter valued at $303,000. CIBC World Markets Inc. acquired a new position in Neptune Wellness Solutions in the 1st quarter valued at $63,000. Finally, Royal Bank of Canada grew its stake in Neptune Wellness Solutions by 47.3% in the 2nd quarter. Royal Bank of Canada now owns 15,948 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 5,121 shares during the last quarter. Institutional investors and hedge funds own 12.24% of the company’s stock.

Neptune Wellness Solutions Company Profile

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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