Nutriband (NASDAQ:NTRB) Stock Price Down 8.1% – Here’s Why

Nutriband Inc. (NASDAQ:NTRB)’s share price dropped 8.1% during mid-day trading on Tuesday . The stock traded as low as $5.52 and last traded at $5.82. Approximately 18,083 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 36,552 shares. The stock had previously closed at $6.33.

Nutriband Price Performance

The stock has a market capitalization of $64.23 million, a PE ratio of -7.56 and a beta of 1.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.36 and a current ratio of 6.57. The stock’s 50-day moving average is $5.69 and its 200 day moving average is $5.38.

Nutriband (NASDAQ:NTRB) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $0.44 million during the quarter. Nutriband had a negative net margin of 401.39% and a negative return on equity of 66.60%.

Hedge Funds Weigh In On Nutriband

A hedge fund recently bought a new stake in Nutriband stock. Virtu Financial LLC bought a new position in shares of Nutriband Inc. (NASDAQ:NTRB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,862 shares of the company’s stock, valued at approximately $58,000. Virtu Financial LLC owned 0.12% of Nutriband as of its most recent filing with the Securities and Exchange Commission (SEC). 19.70% of the stock is currently owned by hedge funds and other institutional investors.

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.