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

Nutriband Inc. (NASDAQ:NTRB) saw a large decrease in short interest in 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. Currently, 4.4% of the company’s stock are sold short. Based on an average trading volume of 201,300 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Ratings Changes

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

Nutriband Stock Performance

Shares of NASDAQ:NTRB traded down $0.01 during trading on Wednesday, reaching $5.77. The stock had a trading volume of 11,195 shares, compared to its average volume of 76,251. The stock has a fifty day simple moving average of $7.07 and a two-hundred day simple moving average of $5.87. The company has a quick ratio of 4.83, a current ratio of 4.96 and a debt-to-equity ratio of 0.01. Nutriband has a 52 week low of $3.20 and a 52 week high of $11.78. The firm has a market capitalization of $64.08 million, a price-to-earnings ratio of -8.13 and a beta of 1.12.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nutriband stock. Geode Capital Management LLC lifted its holdings in Nutriband Inc. (NASDAQ:NTRB) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 62,435 shares of the company’s stock after purchasing an additional 4,372 shares during the period. Geode Capital Management LLC owned 0.56% of Nutriband worth $294,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 19.70% of the company’s stock.

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.