Neptune Insurance (NYSE:NP) Stock Crosses Above 200 Day Moving Average – Here’s Why

Neptune Insurance Holdings Inc. (NYSE:NP) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.51 and traded as high as $30.65. Neptune Insurance shares last traded at $30.44, with a volume of 488,103 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group began coverage on Neptune Insurance in a research note on Monday, October 27th. They set a “buy” rating and a $30.00 price target for the company. Bank of America lifted their target price on Neptune Insurance from $21.00 to $22.50 and gave the stock an “underperform” rating in a research report on Thursday, November 13th. Morgan Stanley boosted their target price on shares of Neptune Insurance from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. TD Cowen began coverage on shares of Neptune Insurance in a research note on Monday, October 27th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Neptune Insurance from $29.00 to $31.00 and gave the company a “buy” rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Neptune Insurance currently has a consensus rating of “Hold” and an average price target of $28.12.

Neptune Insurance Stock Performance

The company has a quick ratio of 1.22, a current ratio of 2.01 and a debt-to-equity ratio of 1.55. The firm has a 50 day moving average price of $25.69 and a 200 day moving average price of $29.52. The stock has a market cap of $4.21 billion, a PE ratio of -18.59 and a beta of 1.46.

Neptune Insurance (NYSE:NP) last issued its earnings results on Wednesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Neptune Insurance had a positive return on equity of 11.06% and a negative net margin of 2.53%.The business had revenue of $44.37 million for the quarter, compared to the consensus estimate of $42.58 million.

Insider Activity at Neptune Insurance

In other Neptune Insurance news, Director Jonathan Winant Carlon acquired 5,000 shares of Neptune Insurance stock in a transaction that occurred on Thursday, October 2nd. The stock was bought at an average price of $20.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director directly owned 653,500 shares of the company’s stock, valued at approximately $13,070,000. This represents a 0.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Trevor R. Burgess bought 50,000 shares of the stock in a transaction on Thursday, October 2nd. The shares were bought at an average price of $20.00 per share, with a total value of $1,000,000.00. Following the acquisition, the chief executive officer owned 2,032,964 shares of the company’s stock, valued at $40,659,280. This trade represents a 2.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 174,050 shares of company stock valued at $3,481,000 over the last quarter. 0.63% of the stock is owned by insiders.

Institutional Trading of Neptune Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new position in Neptune Insurance during the 3rd quarter worth $171,000. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Neptune Insurance during the third quarter worth about $792,000. Finally, Maltese Capital Management LLC purchased a new stake in shares of Neptune Insurance during the third quarter worth about $3,200,000. Hedge funds and other institutional investors own 93.37% of the company’s stock.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.