Neptune Wellness Solutions (NEPT) Stock is All Set To Gap-Down: How To Trade?

The price action in a stock during the premarket trading period can often prove to be a good indicator for investors on the direction of a stock.

This Neptune Wellness Solutions Inc (NASDAQ:NEPT) stock has been on a downward trend in premarket trading and has gone down by as much as 11% so far. The health and wellness company was in the news yesterday after it announced its financial results for the fourth quarter that ended on March 31, 2021. In addition to that, the company also reported the financial results for the financial year that ended on March 31, 2021.

In the fourth quarter, Neptune Wellness Solutions generated revenues of $6.8 million and that was considerably lower than the revenues of $9.5 million that it had managed to generate in the prior year period.

However, at the same time, it is perhaps equally important to highlight that the fourth quarter revenues reflected a sequential rise of as much as 127% from the $3.3 million it had generated in the fiscal third quarter. In the fiscal year, the revenues stood at $46.8 million and that reflected a year on year rise of as much as 58%. In 2020, Neptune Wellness Solutions had generated revenues of only $29.6 million.

Market Reaction:

On Thursday, NEPT stock fell 1.83% at $1.07 with more than 1.43 million shares, compared to its average volume of 1.85 million shares. The stock had moved within a range of $1.0600 – 1.1000 after opening the trade at $1.09. Over the past 52-week, the stock has been trading within a range of $1.0400 – 3.6000.