Wellgistics Health, Inc. (NASDAQ:WGRX) Sees Significant Decline in Short Interest

Wellgistics Health, Inc. (NASDAQ:WGRX) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 865,399 shares, a decline of 35.9% from the November 30th total of 1,349,060 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average trading volume of 545,627 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 545,627 shares, the short-interest ratio is presently 1.6 days. Approximately 1.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

WGRX has been the subject of a number of recent research reports. Wall Street Zen cut shares of Wellgistics Health from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Wellgistics Health in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Wellgistics Health currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. boosted its position in shares of Wellgistics Health by 593.8% in the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after acquiring an additional 50,000 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in Wellgistics Health during the third quarter worth approximately $89,000. Finally, Heights Capital Management Inc. acquired a new position in shares of Wellgistics Health in the 3rd quarter valued at $2,588,000.

Wellgistics Health Stock Down 6.7%

WGRX stock opened at $0.40 on Friday. The firm has a market capitalization of $36.30 million and a PE ratio of -0.35. The company has a quick ratio of 0.16, a current ratio of 0.39 and a debt-to-equity ratio of 1.86. Wellgistics Health has a 52-week low of $0.34 and a 52-week high of $7.04. The business’s fifty day simple moving average is $0.58.

About Wellgistics Health

Founded in 2022, Wellgistics Health is a holding company for various existing and planned strategic businesses centered around pharmaceuticals and healthcare services. As a micro health ecosystem, our portfolio of companies consists of a pharmacy, wholesale operations, and a technology division with a novel platform for hub and clinical services. We are focused on improving the lives of patients while delivering unique solutions for pharmacies, providers, pharmaceutical manufacturers, and payors.