Upexi, Inc. (NASDAQ:UPXI) Sees Large Increase in Short Interest

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) saw a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 299,500 shares, a growth of 30.3% from the May 15th total of 229,900 shares. Based on an average daily volume of 2,290,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.0% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, Director Gene Salkind purchased 241,229 shares of the stock in a transaction dated Thursday, April 17th. The shares were purchased at an average cost of $2.28 per share, with a total value of $550,002.12. Following the completion of the purchase, the director now directly owns 365,127 shares of the company's stock, valued at approximately $832,489.56. The trade was a 194.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Andrew James Norstrud acquired 43,860 shares of Upexi stock in a transaction that occurred on Thursday, April 17th. The stock was purchased at an average cost of $2.28 per share, with a total value of $100,000.80. Following the completion of the purchase, the chief financial officer now owns 59,138 shares in the company, valued at $134,834.64. The trade was a 287.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 942,984 shares of company stock valued at $2,150,004. 31.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upexi

A hedge fund recently bought a new stake in Upexi stock. Bank of Montreal Can purchased a new stake in Upexi, Inc. (NASDAQ:UPXI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,008 shares of the company's stock, valued at approximately $36,000. Bank of Montreal Can owned approximately 0.81% of Upexi at the end of the most recent reporting period. 5.68% of the stock is currently owned by hedge funds and other institutional investors.

Upexi Trading Down 15.2%

NASDAQ:UPXI traded down $1.64 on Friday, reaching $9.15. The company's stock had a trading volume of 531,926 shares, compared to its average volume of 883,572. Upexi has a 12-month low of $1.90 and a 12-month high of $22.57. The stock has a 50 day moving average price of $10.13 and a 200 day moving average price of $5.77. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.24.

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 return on equity of 535.19% and a negative net margin of 135.86%. The company had revenue of $3.16 million for the quarter.

Analyst Ratings Changes

UPXI has been the subject of several research reports. Cantor Fitzgerald raised shares of 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. Wall Street Zen raised shares of Upexi to a "hold" rating in a research note on Friday, May 30th.

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.