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Sunday, July 3, 2022

Neptune Wellness Solutions Inc. (NEPT) Stock Rising After Hours Despite Visible Reason

Neptune Wellness Solutions Inc. (NEPT) is a leader in differentiated health and wellness solutions providers focused on redefining health and wellness. The company is building the best quality and reasonable consumer products utilizing natural, organic, and plant-based resources. Its production and supply chain infrastructure is flexible and cost-efficient.


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NEPT stock price during the regular trading session of March 24, 2022, was 0.28 with a slight gain of 0.47%. Its price rose further as of the writing in the aftermarket session by 14.2%.

NEPT: Events and Happenings

On March 14, 2022, NEPT updated on the closure of a prior announced registered direct offering with an institutional investor for the acquisition and sale of its 18,500,000 common shares and 6,500,000 pre-funded warrants. The shares and warrants were sold along with Series A Warrants for the acquisition of 25,000,000 common shares and Series B Warrants for the acquisition of its 25,000,000 common shares. Each share and warrant were sold together at a per-share offering price of US$0.32 for net proceeds of $8.0 million.

On March 8, 2022, NEPT reported launching Forest Remedies Multi Omega 3-6-9, a novel supplements line made up of Ahiflower oil, in the stores of Sprouts Farmers Market. The oil supplies more quality omegas than other oils. The product line comes in compostable packaging.

On March 7, 2022, NEPT stated its Executive management’s participation at the following conferences.

  • Expo west 2022 was held on March 8-12.
  • 34th Annual Roth Conference on March 13-15, and
  • Virtual Maxim Group 2nd Annual Growth Conference is being held on March 28-29, 2022.

NEPT: Key Financials

NEPT released its Q3 2022 financial statement on February 10, 2022, for the quarter ended December 31, 2021. Some of the notable highlights are stated below.

Revenue

The company posted total revenue of C$18.4 million in Q3 2022 in comparison to C$3.32 million during the corresponding 2021 quarter. Its total revenue sequentially increased by 17% YoY and surpassed the revenue estimations.

EPS

Per-share basic and diluted net loss during Q3 2022 was C$20.9 million or C$0.11 in comparison to C$74.9 million or C$0.59 during the corresponding 2021quarter. Its EPS increased considerably YoY and missed EPS targets.

Conclusion

NEPT stock price dropped by 80% in the last year as a result of economic constrictions due to the COVID-19 pandemic. The company has no recently reported SEC filing or official news on its website, so the current aftermarket stock gain is likely associated with uncertainty.

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