Neptune Wellness Solutions (NASDAQ:NEPT) Cut to “Hold” at Zacks Investment Research

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 issued to investors on Thursday morning, 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.

Shares of NEPT stock opened at $6.13 on Thursday. The stock has a 50-day moving average of $4.52. Neptune Wellness Solutions has a one year low of $2.42 and a one year high of $6.22.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last issued its earnings results on Wednesday, June 12th. The biotechnology company reported ($0.04) 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, sell-side analysts anticipate that Neptune Wellness Solutions will post 0.02 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP bought a new position in shares of Neptune Wellness Solutions during the fourth quarter valued at approximately $367,000. Deutsche Bank AG boosted its stake in shares of Neptune Wellness Solutions by 245.9% during the fourth 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 in the last quarter. Alpine Group USVI LLC bought a new position in shares of Neptune Wellness Solutions during the first quarter valued at approximately $303,000. Finally, CIBC World Markets Inc. bought a new position in shares of Neptune Wellness Solutions during the first quarter valued at approximately $63,000. Hedge funds and other institutional investors own 13.97% 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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