Upexi Target of Unusually High Options Trading (NASDAQ:UPXI)

Key Points

• Traders showed significant interest in Upexi, Inc. (NASDAQ:UPXI), purchasing 13,559 call options, a remarkable 64% increase compared to the average daily volume.
• Despite this bullish activity in options, Upexi's share price dropped by 3.4%, settling at $5.91 after trading 4.7 million shares on the same day.
• Insiders, including CEO Allan Marshall, have been active in buying shares, with Marshall purchasing nearly 162,000 shares, indicating confidence in the company's future.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) saw some unusual options trading on Monday. Traders acquired 13,559 call options on the stock. Thisisanincreaseof64% compared to the typical volume of 8,278 call options.

Insider Activity

In other Upexi news, Director Lawrence Dugan acquired 4,000 shares of Upexi stock in a transaction dated Tuesday, July 22nd. The stock was bought at an average cost of $7.50 per share, with a total value of $30,000.00. Following the completion of the transaction, the director owned 116,389 shares of the company's stock, valued at $872,917.50. The trade was a 3.56% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gene Salkind bought 20,243 shares of Upexi stock in a transaction that occurred on Friday, July 11th. The stock was purchased at an average cost of $4.94 per share, with a total value of $100,000.42. Following the completion of the transaction, the director owned 385,370 shares of the company's stock, valued at $1,903,727.80. This trade represents a 5.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 198,186 shares of company stock valued at $997,759. 31.60% of the stock is owned by company insiders.

Institutional Trading of Upexi

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kathmere Capital Management LLC acquired a new stake in Upexi in the second quarter worth about $6,535,000. North Star Investment Management Corp. acquired a new position in shares of Upexi during the 2nd quarter worth about $45,000. Finally, Bank of Montreal Can acquired a new position in shares of Upexi during the 4th quarter worth about $36,000. 5.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UPXI has been the subject of a number of analyst reports. Wall Street Zen raised Upexi to a "hold" rating in a report on Friday, May 30th. Cantor Fitzgerald raised Upexi from a "neutral" rating to an "overweight" rating and set a $16.00 price objective for the company in a report on Monday, June 16th.

Upexi Stock Down 5.1%

Shares of NASDAQ:UPXI traded down $0.25 during midday trading on Thursday, reaching $4.64. The company's stock had a trading volume of 6,638,605 shares, compared to its average volume of 3,138,471. Upexi has a fifty-two week low of $1.90 and a fifty-two week high of $22.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.24 and a current ratio of 0.37. The business's fifty day simple moving average is $7.72 and its 200-day simple moving average is $5.95.

Upexi (NASDAQ:UPXI - Get Free Report) last announced its earnings results on Friday, May 16th. The company reported ($2.87) earnings per share for the quarter. Upexi had a negative net margin of 135.86% and a negative return on equity of 535.19%. The business had revenue of $3.16 million during the quarter.

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.