Zacks Investment Research Downgrades Neptune Wellness Solutions (NASDAQ:NEPT) to Hold

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

Separately, BidaskClub downgraded shares of Zions Bancorporation NA from a sell rating to a strong sell rating in a research note on Wednesday, May 15th.

NEPT stock opened at $6.13 on Thursday. Neptune Wellness Solutions has a 1 year low of $2.42 and a 1 year high of $6.22. The company has a market capitalization of $499.26 million, a P/E ratio of -43.79 and a beta of 1.72. The business has a 50-day moving average of $4.52.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last released its quarterly earnings results on Wednesday, June 12th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.02). Neptune Wellness Solutions had a negative return on equity of 19.34% and a negative net margin of 94.47%. The company had revenue of $4.26 million during the quarter, compared to the consensus estimate of $4.82 million. On average, equities research analysts anticipate that Neptune Wellness Solutions will post 0.02 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in NEPT. Deutsche Bank AG raised its stake in Neptune Wellness Solutions by 245.9% in the fourth quarter. Deutsche Bank AG now owns 517,135 shares of the biotechnology company’s stock worth $1,313,000 after buying an additional 367,614 shares in the last quarter. Two Sigma Advisers LP bought a new position in Neptune Wellness Solutions in the fourth quarter worth about $367,000. Alpine Group USVI LLC bought a new position in Neptune Wellness Solutions in the first quarter worth about $303,000. Finally, CIBC World Markets Inc. bought a new position in Neptune Wellness Solutions in the first quarter worth about $63,000. 13.97% of the stock is owned by institutional investors.

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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