Nutriband (NASDAQ:NTRB) Shares Up 6.1% - Time to Buy?

Key Points

• Nutriband Inc. shares increased by 6.1% to a trading price of $7.15, despite a 34% decline in trading volume compared to the average.
• The company reported a quarterly EPS of ($2.12), significantly missing analysts' expectations of ($0.17), with revenue of $0.62 million versus the forecast of $0.71 million.
• US Bancorp DE acquired a new stake in Nutriband, purchasing 4,798 shares valued at approximately $29,000, indicating growing institutional interest in the stock.

Nutriband Inc. (NASDAQ:NTRB - Get Free Report)'s stock price traded up 6.1% during mid-day trading on Tuesday . The company traded as high as $7.15 and last traded at $7.15. 21,094 shares were traded during trading, a decline of 34% from the average session volume of 31,957 shares. The stock had previously closed at $6.74.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered 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 company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $13.00.

Nutriband Stock Performance

The firm has a 50-day simple moving average of $7.04 and a two-hundred day simple moving average of $6.71. 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 company has a market capitalization of $86.86 million, a price-to-earnings ratio of -2.52 and a beta of 1.13.

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

Institutional Trading of Nutriband

An institutional investor recently bought a new position in Nutriband stock. US Bancorp DE purchased a new position in shares of Nutriband Inc. (NASDAQ:NTRB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,798 shares of the company's stock, valued at approximately $29,000. Hedge funds and other 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.