Nutriband (NASDAQ:NTRB) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Nutriband (NASDAQ:NTRB) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nutriband in a research note on Wednesday, October 8th. Wall Street Zen downgraded Nutriband from a “hold” rating to a “sell” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nutriband has an average rating of “Hold” and an average price target of $13.00.

Nutriband Price Performance

NASDAQ NTRB traded down $0.22 during trading on Tuesday, hitting $5.64. 18,756 shares of the company’s stock were exchanged, compared to its average volume of 113,210. The company has a market cap of $67.88 million, a PE ratio of -1.97 and a beta of 1.54. The company has a current ratio of 4.78, a quick ratio of 4.70 and a debt-to-equity ratio of 0.01. Nutriband has a fifty-two week low of $3.72 and a fifty-two week high of $11.78. The stock’s 50 day moving average price is $6.97 and its two-hundred day moving average price is $7.06.

Nutriband (NASDAQ:NTRB) last posted its quarterly earnings results on Tuesday, September 9th. The company reported ($2.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($1.95). The company had revenue of $0.62 million during the quarter, compared to analyst estimates of $0.71 million. Nutriband had a negative net margin of 398.29% and a negative return on equity of 85.40%. Research analysts expect that Nutriband will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Nutriband

Hedge funds have recently made changes to their positions in the stock. US Bancorp DE acquired a new position in shares of Nutriband in the first quarter worth approximately $29,000. Consolidated Portfolio Review Corp acquired a new position in shares of Nutriband in the 2nd quarter worth approximately $81,000. Finally, Vanguard Group Inc. boosted its stake in shares of Nutriband by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 202,738 shares of the company’s stock valued at $1,429,000 after purchasing an additional 3,111 shares during the last quarter. 19.70% of the stock is currently owned by institutional investors.

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.