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

Key Points

• Upexi, Inc. (NASDAQ:UPXI) experienced a significant increase in short interest, rising by 128.8% to 12.4 million shares as of September 15th, with 23.7% of the company's shares currently sold short.
• Analysts have mixed views on Upexi, with ratings ranging from a "strong-buy" to "sell," resulting in a consensus rating of "Moderate Buy" and an average price target of $15.50.
• Insider transactions show positive sentiment, as CEO Allan Marshall increased his ownership by 18.31% after purchasing 161,943 shares, while institutional investors collectively own 5.68% of the company's stock.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 12,400,000 shares, a growth of 128.8% from the August 31st total of 5,420,000 shares. Based on an average daily volume of 8,520,000 shares, the short-interest ratio is currently 1.5 days. Currently, 23.7% of the company's shares are sold short. Currently, 23.7% of the company's shares are sold short. Based on an average daily volume of 8,520,000 shares, the short-interest ratio is currently 1.5 days.

Analyst Ratings Changes

Several analysts recently commented on UPXI shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Upexi in a research note on Saturday, September 27th. Cantor Fitzgerald raised Upexi to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Alliance Global Partners initiated coverage on Upexi in a research note on Monday, August 4th. They issued a "buy" rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.50.

Upexi Price Performance

Shares of NASDAQ:UPXI traded up $0.15 during midday trading on Friday, reaching $7.44. The company had a trading volume of 7,687,166 shares, compared to its average volume of 6,001,184. The business's 50 day moving average price is $6.37 and its 200 day moving average price is $6.94. Upexi has a 1-year low of $1.90 and a 1-year high of $22.57.

Insider Transactions at Upexi

In related news, CEO Allan Marshall purchased 161,943 shares of Upexi stock in a transaction dated Friday, July 11th. The shares were acquired at an average cost of $4.94 per share, for a total transaction of $799,998.42. Following the transaction, the chief executive officer directly owned 1,046,261 shares of the company's stock, valued at approximately $5,168,529.34. This trade represents a 18.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gene Salkind purchased 20,243 shares of Upexi stock in a transaction dated Friday, July 11th. The stock was bought at an average price of $4.94 per share, for a total transaction of $100,000.42. Following the completion of the transaction, the director directly owned 385,370 shares in the company, valued at $1,903,727.80. The trade was a 5.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 198,186 shares of company stock worth $997,759 in the last three months. Insiders own 4.42% of the company's stock.

Hedge Funds Weigh In On Upexi

Hedge funds and other institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. bought a new position in Upexi during the second quarter worth about $45,000. Millington Financial Advisors LLC bought a new position in Upexi during the second quarter worth about $60,000. XTX Topco Ltd bought a new position in Upexi during the second quarter worth about $249,000. Geode Capital Management LLC bought a new position in Upexi during the second quarter worth about $1,002,000. Finally, NewGen Asset Management Ltd bought a new position in Upexi during the second quarter worth about $1,720,000. 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.

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