Nutriband Inc. (NASDAQ:NTRB) Short Interest Down 20.9% in March

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

Hedge Funds Weigh In On Nutriband

An institutional investor recently bought a new position in Nutriband stock. Haven Private LLC purchased a new stake in Nutriband Inc. (NASDAQ:NTRB) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,561 shares of the company’s stock, valued at approximately $54,000. Haven Private LLC owned 0.10% of Nutriband as of its most recent filing with the SEC. 19.70% of the stock is owned by hedge funds and other institutional investors.

Nutriband Trading Down 4.7 %

NTRB stock opened at $6.26 on Monday. Nutriband has a 52-week low of $3.20 and a 52-week high of $11.78. The company has a quick ratio of 4.83, a current ratio of 4.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $69.52 million, a P/E ratio of -8.82 and a beta of 1.12. The company’s 50-day simple moving average is $7.02 and its 200-day simple moving average is $5.85.

Analysts Set New Price Targets

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

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.