Short Interest in Nutriband Inc. (NASDAQ:NTRB) Decreases By 24.4%

Nutriband Inc. (NASDAQ:NTRB) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 54,900 shares, a drop of 24.4% from the December 31st total of 72,600 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 153,100 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

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

Nutriband Stock Performance

Nutriband stock traded up $0.39 during trading on Friday, reaching $8.29. The company had a trading volume of 110,336 shares, compared to its average volume of 449,503. Nutriband has a 52 week low of $2.22 and a 52 week high of $11.78. The firm’s 50-day simple moving average is $4.96 and its 200 day simple moving average is $5.51. The firm has a market capitalization of $92.10 million, a price-to-earnings ratio of -11.68 and a beta of 0.99. The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.01.

Nutriband (NASDAQ:NTRB) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported ($0.12) earnings per share (EPS) for the quarter. Nutriband had a negative return on equity of 54.49% and a negative net margin of 338.51%. Sell-side analysts forecast that Nutriband will post -0.6 earnings per share for the current fiscal year.

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.