Short Interest in Nutriband Inc. (NASDAQ:NTRB) Drops By 39.5%

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) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 65,300 shares, adeclineof39.5% from the July 15th total of 107,900 shares. Currently,1.3% of the shares of the company are short sold. 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. Currently,1.3% of the shares of the company are short sold.

Hedge Funds Weigh In On Nutriband

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Nutriband by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 62,435 shares of the company's stock worth $294,000 after acquiring an additional 4,372 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new stake in Nutriband during the second quarter valued at $81,000. Finally, US Bancorp DE purchased a new stake in Nutriband during the first quarter valued at $29,000. Institutional investors own 19.70% of the company's stock.

Nutriband Stock Performance

NASDAQ NTRB traded down $0.14 during trading hours on Tuesday, hitting $6.22. 22,583 shares of the company's stock traded hands, compared to its average volume of 198,722. The business's fifty day moving average price is $7.77 and its two-hundred day moving average price is $6.81. The company has a current ratio of 3.71, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $69.35 million, a P/E ratio of -6.91 and a beta of 1.13. Nutriband has a 52 week low of $3.72 and a 52 week high of $11.78.

Nutriband (NASDAQ:NTRB - Get Free Report) last announced its earnings results on Friday, May 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01. The company had revenue of $0.67 million during 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%. Equities research analysts predict that Nutriband will post -0.6 EPS for the current year.

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.

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