Short Interest in Nutriband Inc. (NASDAQ:NTRB) Decreases By 20.9%

Nutriband Inc. (NASDAQ:NTRB - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 222,300 shares, a decrease of 20.9% from the February 28th total of 281,200 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average daily volume of 201,300 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Noble Financial started coverage on Nutriband in a research report on Wednesday, January 22nd. They issued an "outperform" rating and a $13.00 target price for the company.

Nutriband Stock Performance

Shares of NTRB traded down $0.01 during mid-day trading on Wednesday, hitting $5.77. The stock had a trading volume of 11,195 shares, compared to its average volume of 76,157. The business has a fifty day moving average price of $7.07 and a 200-day moving average price of $5.87. Nutriband has a 52 week low of $3.20 and a 52 week high of $11.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.96 and a quick ratio of 4.83. The firm has a market cap of $64.08 million, a P/E ratio of -8.13 and a beta of 1.12.

Institutional Investors Weigh In On Nutriband

A hedge fund recently bought a new stake in Nutriband stock. Haven Private LLC acquired a new position in Nutriband Inc. (NASDAQ:NTRB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,561 shares of the company's stock, valued at approximately $54,000. Haven Private LLC owned approximately 0.10% of Nutriband at the end of the most recent quarter. 19.70% of the stock is owned by hedge funds and other institutional investors.

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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.