Short Interest in Upexi, Inc. (NASDAQ:UPXI) Drops 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 trading volume of 2,270,000 shares, the short-interest ratio is presently 0.1 days. Currently, 0.8% of the company's shares are short sold.

Insider Buying and Selling

In other news, CEO Allan Marshall bought 657,895 shares of the firm's stock in a transaction on Thursday, April 17th. The stock was acquired at an average cost of $2.28 per share, with a total value of $1,500,000.60. Following the transaction, the chief executive officer now directly owns 809,318 shares in the company, valued at approximately $1,845,245.04. This trade represents a 434.47% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gene Salkind acquired 241,229 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was purchased at an average price of $2.28 per share, with a total value of $550,002.12. Following the completion of the acquisition, the director now directly owns 365,127 shares of the company's stock, valued at $832,489.56. This represents a 194.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 942,984 shares of company stock valued at $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 bought a new position in shares of Upexi, Inc. (NASDAQ:UPXI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 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 SEC filing. Hedge funds and other institutional investors own 5.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

Upexi Price Performance

NASDAQ:UPXI traded up $0.11 during midday trading on Friday, hitting $9.97. The company's stock had a trading volume of 214,697 shares, compared to its average volume of 867,375. The firm's 50 day moving average is $7.62 and its 200-day moving average is $5.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.58 and a quick ratio of 0.53. Upexi has a fifty-two week low of $1.90 and a fifty-two week high of $22.57.

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