Upexi (NASDAQ:UPXI) Upgraded by Wall Street Zen to “Hold” Rating

by · The Markets Daily

Wall Street Zen upgraded shares of Upexi (NASDAQ:UPXI – Free Report) from a sell rating to a hold rating in a research note released on Sunday.

UPXI has been the topic of a number of other research reports. Cantor Fitzgerald cut their price target on Upexi from $16.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, November 14th. Alliance Global Partners assumed coverage on Upexi in a research note on Monday, August 4th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Upexi in a report on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.50.

View Our Latest Analysis on UPXI

Upexi Stock Performance

Upexi stock opened at $2.80 on Friday. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.68. Upexi has a 1 year low of $1.90 and a 1 year high of $22.57. The company has a market cap of $167.48 million, a PE ratio of -0.66 and a beta of -0.52. The company’s 50-day moving average is $4.71 and its two-hundred day moving average is $6.44.

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

Upexi announced that its Board of Directors has approved a share repurchase program on Thursday, November 13th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 25.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Upexi

In other news, Director Gene Salkind bought 100,000 shares of the stock in a transaction on Monday, November 17th. The stock was purchased at an average price of $2.65 per share, for a total transaction of $265,000.00. Following the acquisition, the director owned 569,470 shares in the company, valued at approximately $1,509,095.50. This trade represents a 21.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in Upexi in the third quarter valued at $26,000. Belpointe Asset Management LLC bought a new position in Upexi in the 3rd quarter valued at about $58,000. Arkadios Wealth Advisors acquired a new stake in Upexi during the 3rd quarter worth approximately $58,000. GSA Capital Partners LLP acquired a new stake in shares of Upexi during the third quarter worth $66,000. Finally, Bank of America Corp DE boosted its holdings in Upexi by 3,733.8% in the 3rd quarter. Bank of America Corp DE now owns 13,725 shares of the company’s stock valued at $79,000 after purchasing an additional 13,367 shares during the period. 5.68% of the stock is owned by institutional investors and hedge funds.

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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