Nutriband Inc. (NASDAQ:NTRB) Sees Large Drop in Short Interest

Nutriband Inc. (NASDAQ:NTRB) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 281,200 shares, a decline of 22.1% from the February 13th total of 361,000 shares. Based on an average trading volume of 204,900 shares, the days-to-cover ratio is presently 1.4 days. Approximately 5.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Noble Financial initiated coverage on Nutriband in a research note on Wednesday, January 22nd. They set an “outperform” rating and a $13.00 target price on the stock.

Nutriband Price Performance

NASDAQ:NTRB traded down $0.12 during trading hours on Wednesday, reaching $6.47. The company had a trading volume of 4,159 shares, compared to its average volume of 83,371. The stock has a 50-day moving average of $6.63 and a two-hundred day moving average of $5.71. Nutriband has a one year low of $2.40 and a one year high of $11.78. The firm has a market capitalization of $71.86 million, a PE ratio of -9.11 and a beta of 1.12. The company has a quick ratio of 4.83, a current ratio of 4.96 and a debt-to-equity ratio of 0.01.

Institutional Trading of Nutriband

A hedge fund recently raised its stake in Nutriband stock. Geode Capital Management LLC raised its stake in Nutriband Inc. (NASDAQ:NTRB) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,435 shares of the company’s stock after buying an additional 4,372 shares during the quarter. Geode Capital Management LLC owned 0.56% of Nutriband worth $294,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 19.70% of the company’s stock.

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.