Neptune Wellness Solutions Inc (NASDAQ:NEPT) (TSE:NTB)’s share price shot up 9.7% during mid-day trading on Wednesday . The company traded as high as $4.65 and last traded at $4.65, 1,731,200 shares were traded during mid-day trading. An increase of 85% from the average session volume of 937,459 shares. The stock had previously closed at $4.24.

A number of brokerages have recently issued reports on NEPT. Zacks Investment Research cut shares of Neptune Wellness Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. BidaskClub cut shares of Neptune Wellness Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Echelon Wealth Partners reaffirmed a “buy” rating on shares of Neptune Wellness Solutions in a research note on Wednesday, July 24th. Finally, ValuEngine cut shares of Neptune Wellness Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday.

The firm has a market cap of $391.98 million, a PE ratio of -31.50 and a beta of 1.85. The company’s 50-day simple moving average is $4.74 and its two-hundred day simple moving average is $4.21.

Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.03). The firm had revenue of $3.26 million for the quarter, compared to analysts’ expectations of $4.51 million. Neptune Wellness Solutions had a negative net margin of 107.62% and a negative return on equity of 23.18%. As a group, equities analysts predict that Neptune Wellness Solutions Inc will post 0.01 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in Neptune Wellness Solutions by 47.3% during 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 period. Jane Street Group LLC boosted its position in Neptune Wellness Solutions by 45.9% during the 2nd quarter. Jane Street Group LLC now owns 22,598 shares of the biotechnology company’s stock valued at $98,000 after buying an additional 7,106 shares during the period. Morgan Stanley boosted its position in Neptune Wellness Solutions by 9.1% during the 2nd quarter. Morgan Stanley now owns 208,980 shares of the biotechnology company’s stock valued at $909,000 after buying an additional 17,361 shares during the period. Tower Research Capital LLC TRC boosted its position in Neptune Wellness Solutions by 265.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,929 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 7,214 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Neptune Wellness Solutions by 19.4% during the 2nd quarter. Wells Fargo & Company MN now owns 15,362 shares of the biotechnology company’s stock valued at $67,000 after buying an additional 2,500 shares during the period. 11.86% of the stock is owned by institutional investors and hedge funds.

About Neptune Wellness Solutions (NASDAQ:NEPT)

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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