StockNews.com Begins Coverage on Neptune Wellness Solutions (NASDAQ:NEPT)

StockNews.com assumed coverage on shares of Neptune Wellness Solutions (NASDAQ:NEPT) (TSE:NTB) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Separately, Desjardins decreased their target price on Neptune Wellness Solutions from C$1.00 to C$0.75 and set a “hold” rating on the stock in a research report on Wednesday, November 17th.

NEPT stock opened at $0.28 on Tuesday. Neptune Wellness Solutions has a twelve month low of $0.26 and a twelve month high of $1.99. The company has a market cap of $46.89 million, a PE ratio of -0.30 and a beta of 2.23. The business’s 50-day simple moving average is $0.36 and its 200 day simple moving average is $0.49. The company has a quick ratio of 2.12, a current ratio of 3.03 and a debt-to-equity ratio of 0.10.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEPT. Goldman Sachs Group Inc. boosted its holdings in Neptune Wellness Solutions by 981.0% during the second quarter. Goldman Sachs Group Inc. now owns 139,978 shares of the biotechnology company’s stock valued at $164,000 after purchasing an additional 127,029 shares in the last quarter. Morgan Stanley boosted its holdings in Neptune Wellness Solutions by 86.8% during the second quarter. Morgan Stanley now owns 200,169 shares of the biotechnology company’s stock valued at $235,000 after purchasing an additional 93,023 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Neptune Wellness Solutions by 169.2% during the third quarter. Commonwealth Equity Services LLC now owns 1,151,121 shares of the biotechnology company’s stock valued at $695,000 after purchasing an additional 723,480 shares in the last quarter. Natixis acquired a new stake in Neptune Wellness Solutions during the third quarter valued at approximately $69,000. Finally, Penserra Capital Management LLC raised its stake in shares of Neptune Wellness Solutions by 53.2% in the third quarter. Penserra Capital Management LLC now owns 2,403,104 shares of the biotechnology company’s stock valued at $1,452,000 after acquiring an additional 834,504 shares during the last quarter. 11.71% of the stock is currently owned by institutional investors.

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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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