Short Interest in Nutriband Inc. (NASDAQ:NTRB) Declines By 22.1%

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

Hedge Funds Weigh In On Nutriband

A hedge fund recently bought a new stake in Nutriband stock. Haven Private LLC acquired a new position in shares of Nutriband Inc. (NASDAQ:NTRB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm 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 reporting period. Institutional investors own 19.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Nutriband Stock Up 0.3 %

NTRB traded up $0.02 during trading hours on Tuesday, reaching $6.59. 6,878 shares of the stock traded hands, compared to its average volume of 83,687. Nutriband has a fifty-two week low of $2.40 and a fifty-two 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 company has a market cap of $73.19 million, a price-to-earnings ratio of -9.28 and a beta of 1.12. The firm’s fifty day simple moving average is $6.63 and its two-hundred day simple moving average is $5.71.

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.