Nutriband Inc. (NASDAQ:NTRB) Short Interest Down 39.5% in July

Key Points

• Short Interest Decline: Nutriband Inc.'s short interest decreased by 39.5% in July, totaling 65,300 shares, representing 1.3% of the company's stock.
• Institutional Investment: A number of hedge funds and institutional investors have increased their holdings in Nutriband, with Geode Capital Management boosting its position by 7.5% in the last quarter.
• Stock Performance: Nutriband's stock traded down to $6.22, with a market capitalization of $69.35 million, a P/E ratio of -6.91, and its earnings report exceeding consensus estimates slightly.

Nutriband Inc. (NASDAQ:NTRB - Get Free Report) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 65,300 shares, adropof39.5% from the July 15th total of 107,900 shares. Approximately1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 126,800 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 126,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately1.3% of the shares of the stock are sold short.

Nutriband Price Performance

Nutriband stock traded up $0.12 during midday trading on Friday, reaching $6.43. The company had a trading volume of 20,503 shares, compared to its average volume of 192,409. The company has a market capitalization of $71.69 million, a P/E ratio of -7.14 and a beta of 1.13. Nutriband has a 12-month low of $3.72 and a 12-month high of $11.78. The firm's fifty day simple moving average is $7.70 and its 200-day simple moving average is $6.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.71 and a quick ratio of 3.48.

Nutriband (NASDAQ:NTRB - Get Free Report) last issued its quarterly earnings results on Friday, May 30th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. The firm had revenue of $0.67 million for the quarter, compared to analyst estimates of $0.71 million. Nutriband had a negative net margin of 415.93% and a negative return on equity of 68.25%. As a group, equities analysts anticipate that Nutriband will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. US Bancorp DE purchased a new position in Nutriband in the 1st quarter worth approximately $29,000. Geode Capital Management LLC lifted its stake in Nutriband by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 62,435 shares of the company's stock worth $294,000 after purchasing an additional 4,372 shares in the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new position in Nutriband in the 2nd quarter worth approximately $81,000. 19.70% of the stock is owned by hedge funds and other institutional investors.

Nutriband Company Profile

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.