Upexi Target of Unusually Large 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 unusually large options trading on Monday. Investors purchased 13,559 call options on the stock. This is an increase of approximately 64% compared to the average volume of 8,278 call options.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Cantor Fitzgerald upgraded Upexi from a "neutral" rating to an "overweight" rating and set a $16.00 price objective for the company in a research note on Monday, June 16th. Wall Street Zen upgraded Upexi to a "hold" rating in a report on Friday, May 30th.

Upexi Stock Performance

UPXI traded down $0.23 during trading on Tuesday, reaching $5.66. The company's stock had a trading volume of 1,532,303 shares, compared to its average volume of 3,053,264. The company has a current ratio of 0.37, a quick ratio of 0.24 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $7.96 and a two-hundred day simple moving average of $5.96. Upexi has a 1 year low of $1.90 and a 1 year high of $22.57.

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

Insider Activity at Upexi

In other news, Director Lawrence Dugan bought 11,000 shares of Upexi stock in a transaction that occurred on Wednesday, July 16th. The stock was bought at an average price of $5.69 per share, for a total transaction of $62,590.00. Following the purchase, the director directly owned 112,389 shares of the company's stock, valued at approximately $639,493.41. The trade was a 10.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Allan Marshall acquired 161,943 shares of Upexi stock in a transaction on Friday, July 11th. The shares were bought at an average price of $4.94 per share, with a total value of $799,998.42. Following the purchase, the chief executive officer directly owned 1,046,261 shares in the company, valued at approximately $5,168,529.34. The trade was a 18.31% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 177,943 shares of company stock worth $897,758. 31.60% of the stock is owned by insiders.

Institutional Trading of Upexi

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

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.