Neptune Insurance (NYSE:NP) Shares Gap Down – Here’s What Happened

Neptune Insurance Holdings Inc. (NYSE:NP)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $30.68, but opened at $28.59. Neptune Insurance shares last traded at $27.2110, with a volume of 45,274 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NP. Raymond James Financial reaffirmed an “outperform” rating on shares of Neptune Insurance in a research note on Monday, April 27th. Mizuho upped their price target on shares of Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Evercore reissued an “outperform” rating on shares of Neptune Insurance in a research report on Friday. Piper Sandler dropped their price objective on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Finally, Morgan Stanley cut their target price on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 4th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.42.

Neptune Insurance Stock Performance

The stock’s 50 day simple moving average is $24.33 and its 200 day simple moving average is $24.92. The firm has a market cap of $3.87 billion and a P/E ratio of 103.69.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, analysts forecast that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Neptune Insurance

In other news, Director Michael Warren Vostrizansky acquired 23,000 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $494,500.00. Following the purchase, the director owned 23,000 shares in the company, valued at approximately $494,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Trevor R. Burgess acquired 50,000 shares of the business’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $18.71 per share, for a total transaction of $935,500.00. Following the transaction, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NP. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Neptune Insurance in the 3rd quarter worth approximately $792,000. Maltese Capital Management LLC purchased a new position in shares of Neptune Insurance during the 3rd quarter valued at $3,200,000. FNY Investment Advisers LLC purchased a new stake in Neptune Insurance in the 3rd quarter worth about $171,000. Massachusetts Financial Services Co. MA bought a new stake in Neptune Insurance in the 4th quarter valued at about $759,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Neptune Insurance during the 4th quarter valued at approximately $2,068,000.

Neptune Insurance Company Profile

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.