On February 09, Neptune Wellness Solutions Inc. (NEPT) stock rebounded after hours with a good comeback. The stock rose just before the company’s upcoming earnings announcement. The company will be declaring its fiscal Q3 2022 results on February 10, before the market opens. Moreover, the conference call is set to be held at 10:00 am ET, on Thursday.
During regular trading, NEPT stock suffered a loss of 7.68% as it plunged down to its 52-week low of $0.2800. The stock closed the session at the 52-week low with 2.41 million shares exchanging. Soon in the after-hours, the stock saw a reversal as it rebounded to add a good 21.21%. Hence, NEPT was trading at $0.3394 apiece in the after hours, on Wednesday.
The Canada-based diversified health and wellness company, Neptune Wellness Solutions Inc. has a market capitalization of $50.67 million. Currently, the company has 167.32 million shares outstanding in the market.
What is Happening with NEPT?
Since the company announced the date for its earnings release, the stock has been moving slowly with occasional downtrends. With no new announcement or SEC filing, NEPT stock nosedived in the regular session to its new 52-week low. The following recovery in the after-hours could be attributed to two suspected reasons. Firstly, positive anticipation of the upcoming earnings of the company. Secondly, the new low price of the stock seems to have provided a good buying opportunity to interested investors. Therefore, NEPT stock made a good comeback in the after-hours on Wednesday, just before its earnings release.
In the past five days, the stock has lost 11.70% while it has declined by 31.71% year to date. Moreover, NEPT stock lost a huge value of over 91.1% in the past year.
Recent Developments
On January 18, the company announced it has brought its own legal services in-house, hence, reducing corporate costs. The company has appointed Christopher J. C. Waldon and Christopher Piazza for the purpose.
Mr. Waldon has been appointed as the company’s Deputy General Counsel – Litigation. With more than 14 years of experience in all aspects of litigation, Mr. Waldon joined NEPT from Venable LLP.
Additionally, Mr. Christopher Piazza has been appointed as the company’s Deputy General Counsel – Corporate. Mr. Piazza has been advising the company as its Associate General Counsel since 2019.
On December 20, NEPT announced the launch of Mood Ring’s new cannabis pre-roll product line in Ontario and Alberta. With this addition, the company now has products for every category in Canada.
