Upexi (NASDAQ:UPXI) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Upexi (NASDAQ:UPXI – Free Report) from a hold rating to a sell rating in a report published on Monday morning.

UPXI has been the topic of several other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Upexi in a research note on Monday, December 1st. Cantor Fitzgerald lowered their target price on shares of Upexi from $16.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, November 14th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Upexi has a consensus rating of “Hold” and a consensus target price of $10.50.

View Our Latest Report on Upexi

Upexi Price Performance

Shares of Upexi stock opened at $2.45 on Monday. Upexi has a 52 week low of $1.90 and a 52 week high of $22.57. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.68. The stock has a market cap of $154.86 million, a PE ratio of -0.58 and a beta of -0.52. The company’s 50-day moving average price is $4.21 and its two-hundred day moving average price is $6.01.

Upexi (NASDAQ:UPXI – Get Free Report) last issued its earnings results on Wednesday, November 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Upexi had a negative return on equity of 30.42% and a net margin of 264.25%.The company had revenue of $9.24 million during the quarter, compared to analyst estimates of $7.33 million.

Upexi declared that its board has authorized a share buyback plan on Thursday, November 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 25.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Gene Salkind purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $2.65 per share, for a total transaction of $265,000.00. Following the purchase, the director owned 569,470 shares in the company, valued at approximately $1,509,095.50. This represents a 21.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.42% of the company’s stock.

Institutional Trading of Upexi

Several hedge funds and other institutional investors have recently made changes to their positions in UPXI. Kathmere Capital Management LLC bought a new position in shares of Upexi in the 2nd quarter worth $6,535,000. NewGen Equity Long Short Fund purchased a new stake in shares of Upexi during the second quarter valued at approximately $1,720,000. Millington Financial Advisors LLC bought a new stake in Upexi during the 2nd quarter valued at $60,000. North Star Investment Management Corp. bought a new stake in shares of Upexi in the second quarter worth about $45,000. Finally, XTX Topco Ltd bought a new position in shares of Upexi during the second quarter valued at approximately $249,000. 5.68% of the stock is currently owned by institutional investors.

Upexi Company Profile

(Get Free Report)

Upexi, Inc manufactures and sells various branded products in the health, wellness, pet, beauty, and other markets. The company was formerly known as Grove, Inc and changed its name to Upexi, Inc in August 2022. The company was incorporated in 2018 and is headquartered in Clearwater, Florida.

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