Nutriband (NASDAQ:NTRB) Trading 2.3% Higher – Here’s What Happened

Nutriband Inc. (NASDAQ:NTRB) shot up 2.3% during mid-day trading on Tuesday . The company traded as high as $4.49 and last traded at $4.36. 8,478 shares were traded during trading, a decline of 43% from the average session volume of 14,876 shares. The stock had previously closed at $4.26.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Nutriband from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nutriband has a consensus rating of “Reduce”.

Nutriband Stock Performance

The business has a 50-day moving average price of $4.60 and a 200-day moving average price of $5.90. The company has a quick ratio of 7.35, a current ratio of 7.52 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $53.10 million, a price-to-earnings ratio of -1.42 and a beta of 1.87.

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

Institutional Trading of Nutriband

An institutional investor recently raised its position in Nutriband stock. Vanguard Group Inc. boosted its stake in shares of Nutriband Inc. (NASDAQ:NTRB) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 202,738 shares of the company’s stock after purchasing an additional 3,111 shares during the period. Vanguard Group Inc. owned approximately 1.68% of Nutriband worth $1,429,000 at the end of the most recent reporting period. 19.70% of the stock is owned by institutional investors.

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.