Upexi (NASDAQ:UPXI) Downgraded to Sell Rating by Wall Street Zen

Upexi (NASDAQ:UPXI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Several other analysts have also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Upexi in a research note on Monday, December 1st. Cantor Fitzgerald cut their price objective on Upexi from $16.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.50.

Upexi Stock Down 6.7%

Upexi stock opened at $2.66 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.39 and a current ratio of 3.41. The stock’s fifty day moving average is $4.41 and its two-hundred day moving average is $6.17. Upexi has a fifty-two week low of $1.90 and a fifty-two week high of $22.57. The firm has a market capitalization of $168.14 million, a price-to-earnings ratio of -0.63 and a beta of -0.52.

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

Upexi declared that its Board of Directors has approved a stock repurchase program on Thursday, November 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 25.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Upexi

In other Upexi news, Director Gene Salkind acquired 100,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average price of $2.65 per share, with a total value of $265,000.00. Following the transaction, the director directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.42% of the company’s stock.

Hedge Funds Weigh In On Upexi

Several institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Upexi in the third quarter valued at $26,000. North Star Investment Management Corp. acquired a new stake in Upexi in the 2nd quarter valued at about $45,000. Belpointe Asset Management LLC bought a new position in shares of Upexi during the 3rd quarter valued at about $58,000. Arkadios Wealth Advisors purchased a new stake in shares of Upexi during the third quarter valued at $58,000. Finally, Millington Financial Advisors LLC purchased a new position in Upexi during the 2nd quarter worth approximately $60,000. Institutional investors own 5.68% of the company’s stock.

About Upexi

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.