Short Interest in Wellgistics Health, Inc. (NASDAQ:WGRX) Declines By 19.7%

Wellgistics Health, Inc. (NASDAQ:WGRX) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 695,222 shares, a decline of 19.7% from the December 15th total of 865,399 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average trading volume of 442,337 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 442,337 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wellgistics Health in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Wellgistics Health Trading Down 0.6%

NASDAQ WGRX opened at $0.41 on Monday. The firm’s 50 day moving average price is $0.51 and its two-hundred day moving average price is $0.78. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.16 and a current ratio of 0.39. Wellgistics Health has a twelve month low of $0.34 and a twelve month high of $7.04. The stock has a market cap of $36.40 million and a price-to-earnings ratio of -0.35.

Institutional Investors Weigh In On Wellgistics Health

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

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.