Neptune Insurance (NYSE:NP) Trading Down 9.6% – Time to Sell?

Neptune Insurance Holdings Inc. (NYSE:NP) shares traded down 9.6% during trading on Thursday . The stock traded as low as $17.28 and last traded at $17.39. 68,275 shares traded hands during trading, a decline of 79% from the average session volume of 325,674 shares. The stock had previously closed at $19.23.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NP shares. JPMorgan Chase & Co. initiated coverage on Neptune Insurance in a report on Monday, October 27th. They set a “neutral” rating and a $25.00 price objective on the stock. Evercore began coverage on Neptune Insurance in a research note on Monday, October 27th. They set an “outperform” rating and a $35.00 price target on the stock. Piper Sandler began coverage on Neptune Insurance in a research report on Monday, October 27th. They issued an “overweight” rating and a $33.00 price objective for the company. Keefe, Bruyette & Woods began coverage on Neptune Insurance in a report on Monday, October 27th. They set a “market perform” rating and a $26.00 price objective for the company. Finally, Zacks Research raised shares of Neptune Insurance to a “hold” rating in a research note on Tuesday, October 28th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.31.

Neptune Insurance Stock Performance

The company has a 50-day moving average of $26.69 and a 200-day moving average of $28.12. The firm has a market capitalization of $2.38 billion and a price-to-earnings ratio of 157.00.

Neptune Insurance (NYSE:NP) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $44.37 million for the quarter, compared to analysts’ expectations of $42.58 million.

Hedge Funds Weigh In On Neptune Insurance

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Neptune Insurance in the fourth quarter valued at about $47,063,000. Capital World Investors acquired a new stake in Neptune Insurance in the 4th quarter valued at approximately $32,091,000. JPMorgan Chase & Co. bought a new stake in Neptune Insurance in the 4th quarter valued at approximately $27,695,000. Capital International Investors acquired a new position in Neptune Insurance during the 4th quarter worth approximately $20,412,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of Neptune Insurance during the 4th quarter worth approximately $12,260,000.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.