Wellgistics Health Stock to Reverse Split on Tuesday, May 26th (NASDAQ:WGRX)

Wellgistics Health, Inc. (NASDAQ:WGRX) shares are going to reverse split before the market opens on Tuesday, May 26th. The 1-50 reverse split was announced on Wednesday, May 20th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, May 25th.

Wellgistics Health Trading Down 17.1%

NASDAQ WGRX opened at $0.11 on Friday. The firm has a market capitalization of $13.45 million, a price-to-earnings ratio of -0.12 and a beta of -1.17. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.04 and a current ratio of 0.09. Wellgistics Health has a one year low of $0.07 and a one year high of $2.56. The company’s 50 day moving average price is $0.12 and its 200 day moving average price is $0.32.

Wellgistics Health (NASDAQ:WGRX) last announced its quarterly earnings results on Tuesday, May 19th. The company reported ($0.07) earnings per share for the quarter. Wellgistics Health had a negative net margin of 545.69% and a negative return on equity of 1,617.25%. The business had revenue of $1.56 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wellgistics Health in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Wellgistics Health has an average rating of “Sell”.

Hedge Funds Weigh In On Wellgistics Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. boosted its holdings in Wellgistics Health by 593.8% in the 3rd 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 period. XTX Topco Ltd grew its position in Wellgistics Health by 195.1% in the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock valued at $42,000 after acquiring an additional 70,137 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Wellgistics Health by 81.0% during the fourth quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock valued at $195,000 after purchasing an additional 218,170 shares during the period. Finally, Heights Capital Management Inc. purchased a new stake in shares of Wellgistics Health during the third quarter valued at approximately $2,588,000.

Wellgistics Health Company Profile

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.