Upexi (NASDAQ:UPXI) Rating Increased to Hold at Wall Street Zen

Upexi (NASDAQ:UPXI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities analysts have also commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Upexi in a report on Monday, December 8th. Cantor Fitzgerald lowered their price target on shares of Upexi from $16.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Upexi currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Upexi Stock Performance

NASDAQ:UPXI opened at $2.04 on Tuesday. The stock’s 50-day simple moving average is $3.89 and its 200 day simple moving average is $5.81. Upexi has a twelve month low of $1.90 and a twelve month high of $22.57. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $128.95 million, a PE ratio of -0.48 and a beta of -0.52.

Upexi (NASDAQ:UPXI) last released its quarterly earnings data 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). The company 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 has approved a stock buyback plan on Thursday, November 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 25.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Upexi

In other news, Director Gene Salkind bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average cost of $2.65 per share, for a total transaction of $265,000.00. Following the acquisition, the director directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 4.42% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UPXI. Kathmere Capital Management LLC purchased a new stake in Upexi in the 2nd quarter valued at about $6,535,000. NewGen Equity Long Short Fund bought a new position in Upexi in the 2nd quarter valued at $1,720,000. NewGen Asset Management Ltd bought a new stake in shares of Upexi during the 2nd quarter worth $1,720,000. Millington Financial Advisors LLC bought a new stake in shares of Upexi during the 2nd quarter worth $60,000. Finally, North Star Investment Management Corp. purchased a new position in shares of Upexi in the 2nd quarter worth about $45,000. Institutional investors and hedge funds own 5.68% of the company’s stock.

Upexi Company Profile

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.