Nutriband Inc. (NASDAQ:NTRB) Short Interest Down 21.1% in August

Key Points

• Nutriband Inc. experienced a significant decline in short interest, decreasing by 21.1% in August to a total of 125,400 shares.
• The company's latest earnings report showed a loss of ($2.12) per share, which was significantly below the consensus estimate of ($0.17), and a revenue of $0.62 million.
• Analysts have downgraded Nutriband's stock rating from a "hold" to a "strong sell," with an average price target of $13.00.

Nutriband Inc. (NASDAQ:NTRB - Get Free Report) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 125,400 shares, a decline of 21.1% from the August 15th total of 159,000 shares. Based on an average daily volume of 115,300 shares, the days-to-cover ratio is currently 1.1 days. Approximately 2.3% of the shares of the company are sold short. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 115,300 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of Nutriband from a "hold" rating to a "strong sell" rating in a report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $13.00.

Nutriband Price Performance

Shares of Nutriband stock traded down $0.04 during midday trading on Friday, hitting $7.22. 36,390 shares of the company traded hands, compared to its average volume of 32,300. The stock has a market cap of $86.86 million, a price-to-earnings ratio of -2.52 and a beta of 1.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.70 and a current ratio of 4.78. The firm's fifty day moving average price is $7.04 and its 200-day moving average price is $6.71. Nutriband has a 12 month low of $3.72 and a 12 month high of $11.78.

Nutriband (NASDAQ:NTRB - Get Free Report) last announced its quarterly earnings results on Tuesday, September 9th. The company reported ($2.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($1.95). The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $0.71 million. Nutriband had a negative net margin of 398.29% and a negative return on equity of 85.40%. As a group, sell-side analysts forecast that Nutriband will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Nutriband

A hedge fund recently bought a new stake in Nutriband stock. Consolidated Portfolio Review Corp bought a new position in shares of Nutriband Inc. (NASDAQ:NTRB - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,350 shares of the company's stock, valued at approximately $81,000. Consolidated Portfolio Review Corp owned about 0.09% of Nutriband at the end of the most recent reporting period. Institutional investors and hedge funds 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.