Short Interest in Upexi, Inc. (NASDAQ:UPXI) Declines By 45.4%

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 229,900 shares, a drop of 45.4% from the April 30th total of 421,000 shares. Based on an average daily volume of 2,270,000 shares, the short-interest ratio is currently 0.1 days. Currently, 0.8% of the company's shares are short sold.

Upexi Stock Down 4.2%

UPXI stock traded down $0.48 on Tuesday, hitting $10.90. The company had a trading volume of 76,919 shares, compared to its average volume of 861,937. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 0.35. Upexi has a 12-month low of $1.90 and a 12-month high of $22.57. The stock's 50-day simple moving average is $7.80 and its 200 day simple moving average is $5.19.

Upexi (NASDAQ:UPXI - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The company reported ($2.87) earnings per share for the quarter. The firm had revenue of $3.16 million during the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Upexi to a "hold" rating in a research report on Friday.

Insider Activity at Upexi

In other Upexi news, CEO Allan Marshall acquired 657,895 shares of the company's stock in a transaction dated Thursday, April 17th. The stock was bought at an average price of $2.28 per share, for a total transaction of $1,500,000.60. Following the purchase, the chief executive officer now owns 809,318 shares in the company, valued at $1,845,245.04. This represents a 434.47% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gene Salkind acquired 241,229 shares of Upexi stock in a transaction that occurred on Thursday, April 17th. The shares were purchased at an average cost of $2.28 per share, for a total transaction of $550,002.12. Following the purchase, the director now directly owns 365,127 shares in the company, valued at $832,489.56. The trade was a 194.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 942,984 shares of company stock worth $2,150,004. Insiders own 31.60% of the company's stock.

Institutional Trading of Upexi

An institutional investor recently bought a new position in Upexi stock. Bank of Montreal Can acquired a new stake in shares of Upexi, Inc. (NASDAQ:UPXI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,008 shares of the company's stock, valued at approximately $36,000. Bank of Montreal Can owned about 0.81% of Upexi as of its most recent filing with the Securities and Exchange Commission. 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.