Neptune Insurance (NYSE:NP) Shares Gap Up – What’s Next?

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $17.14, but opened at $18.02. Neptune Insurance shares last traded at $18.20, with a volume of 78,958 shares changing hands.

Wall Street Analyst Weigh In

NP has been the topic of several research analyst reports. Zacks Research raised Neptune Insurance to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings initiated coverage on shares of Neptune Insurance in a research report on Wednesday, December 24th. They set a “sell (d)” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of Neptune Insurance in a research report on Monday, October 27th. They issued a “neutral” rating and a $25.00 target price for the company. Raymond James Financial assumed coverage on shares of Neptune Insurance in a report on Monday, October 27th. They set an “outperform” rating and a $30.00 price target on the stock. Finally, Mizuho upped their price target on shares of Neptune Insurance from $23.00 to $26.00 and gave the stock an “underperform” rating in a research note on Thursday, November 13th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.92.

Neptune Insurance Price Performance

The company has a fifty day simple moving average of $26.54 and a two-hundred day simple moving average of $28.04. The company has a market capitalization of $2.56 billion and a P/E ratio of 168.82.

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

Hedge Funds Weigh In On Neptune Insurance

Institutional investors have recently modified their holdings of the company. 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 stake in Neptune Insurance during the fourth quarter valued at about $125,000. FNY Investment Advisers LLC acquired a new stake in shares of Neptune Insurance in the third quarter valued at about $171,000. BIT Capital GmbH acquired a new position in shares of Neptune Insurance during the 4th quarter worth about $292,000. Finally, Cohen & Steers Inc. bought a new stake in Neptune Insurance during the 4th quarter valued at approximately $292,000.

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.