Nutriband (NASDAQ:NTRB) Stock Price Down 3.9% – Here’s Why

Nutriband Inc. (NASDAQ:NTRB) fell 3.9% during mid-day trading on Tuesday . The stock traded as low as $4.14 and last traded at $4.14. 10,666 shares traded hands during trading, an increase of 6% from the average session volume of 10,048 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Nutriband from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nutriband presently has an average rating of “Reduce”.

Nutriband Stock Down 3.9%

The company has a debt-to-equity ratio of 0.01, a current ratio of 7.52 and a quick ratio of 7.35. The company has a market capitalization of $50.43 million, a PE ratio of -1.35 and a beta of 1.78. The business’s 50 day simple moving average is $4.46 and its 200 day simple moving average is $5.60.

Nutriband (NASDAQ:NTRB) last announced its quarterly earnings results on Wednesday, December 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.13) by $1.81. The business had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.68 million. Nutriband had a negative net margin of 560.89% and a negative return on equity of 133.22%. As a group, analysts anticipate that Nutriband Inc. will post -0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nutriband

An institutional investor recently bought a new position in Nutriband stock. Cogent Private Wealth Inc. acquired a new position in shares of Nutriband Inc. (NASDAQ:NTRB) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,014 shares of the company’s stock, valued at approximately $73,000. Cogent Private Wealth Inc. owned about 0.13% of Nutriband at the end of the most recent quarter. Institutional investors own 19.70% of the company’s stock.

Nutriband Company Profile

Nutriband Inc develops a portfolio of transdermal pharmaceutical products. Its lead product in development is AVERSA fentanyl, an abuse deterrent fentanyl transdermal system that provides clinicians and patients with an extended-release transdermal fentanyl product for use in managing chronic pain requiring around the clock opioid therapy. The company also develops other products, which include AVERSA buprenorphine and AVERSA methylphenidate; exenatide for type 2 diabetes; and follicle stimulating hormone for infertility.