Nutriband Inc. (NASDAQ:NTRB) Short Interest Down 22.1% in February

Nutriband Inc. (NASDAQ:NTRB) was the recipient of a significant decline in short interest during the month of 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. Currently, 5.5% of the shares of the company are short sold. Based on an average trading volume of 204,900 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of Nutriband

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

Analyst Ratings Changes

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

Nutriband Stock Performance

Shares of NTRB stock traded up $0.28 during trading on Monday, reaching $6.48. 14,982 shares of the company’s stock traded hands, compared to its average volume of 83,672. The company has a market capitalization of $71.91 million, a P/E ratio of -9.12 and a beta of 1.12. The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average is $6.55 and its 200 day moving average is $5.68. Nutriband has a 1 year low of $2.25 and a 1 year high of $11.78.

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.