Nutriband (NASDAQ:NTRB) Shares Down 1% – Here’s What Happened

Nutriband Inc. (NASDAQ:NTRB)’s stock price traded down 1% during mid-day trading on Thursday . The company traded as low as $3.03 and last traded at $3.06. Approximately 11,387 shares changed hands during trading, a decline of 11% from the average session volume of 12,846 shares. The stock had previously closed at $3.09.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Nutriband from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Nutriband Price Performance

The firm’s 50-day moving average price is $3.48 and its 200-day moving average price is $3.99. The stock has a market cap of $37.21 million, a P/E ratio of -1.19 and a beta of 1.93.

Nutriband (NASDAQ:NTRB) last released its earnings results on Thursday, June 11th. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $0.43 million during the quarter. Nutriband had a negative net margin of 448.25% and a negative return on equity of 112.64%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nutriband stock. Vanguard Group Inc. grew its holdings in shares of Nutriband Inc. (NASDAQ:NTRB) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 202,738 shares of the company’s stock after purchasing an additional 3,111 shares during the quarter. Vanguard Group Inc. owned approximately 1.68% of Nutriband worth $1,429,000 at the end of the most recent quarter. Institutional investors own 19.70% of the company’s stock.

About Nutriband

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.