Upexi, Inc. (NASDAQ:UPXI) Short Interest Update

Key Points

• Upexi, Inc. experienced a significant increase in short interest, growing by 391.9% in July, totaling 6,640,000 shares as of July 31st.
• CEO Allan Marshall and director Gene Salkind made notable insider purchases, increasing their ownership by 18.31% and 5.54% respectively.
• Wall Street analysts have issued mixed ratings for Upexi, with Cantor Fitzgerald upgrading the stock to a "strong-buy" and Alliance Global Partners establishing a target price of $15.00.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 6,640,000 shares, agrowthof391.9% from the July 15th total of 1,350,000 shares. Currently,15.8% of the shares of the company are sold short. Based on an average daily trading volume, of 5,570,000 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily trading volume, of 5,570,000 shares, the days-to-cover ratio is currently 1.2 days. Currently,15.8% of the shares of the company are sold short.

Upexi Price Performance

Shares of UPXI traded down $0.62 on Tuesday, reaching $6.30. 5,591,829 shares of the company's stock were exchanged, compared to its average volume of 3,623,436. The business has a 50 day moving average price of $6.43 and a two-hundred day moving average price of $6.20. Upexi has a 12 month low of $1.90 and a 12 month high of $22.57. The company has a current ratio of 0.37, a quick ratio of 0.24 and a debt-to-equity ratio of 0.31.

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

Insider Activity

In other news, Director Gene Salkind acquired 20,243 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were bought at an average price of $4.94 per share, with a total value of $100,000.42. Following the acquisition, the director owned 385,370 shares of the company's stock, valued at $1,903,727.80. This trade represents a 5.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence Dugan bought 4,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was purchased at an average price of $7.50 per share, with a total value of $30,000.00. Following the completion of the purchase, the director directly owned 116,389 shares of the company's stock, valued at $872,917.50. This represents a 3.56% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 198,186 shares of company stock valued at $997,759. 4.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upexi

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in Upexi during the 4th quarter worth $36,000. Geode Capital Management LLC bought a new stake in Upexi in the 2nd quarter valued at $1,002,000. XTX Topco Ltd acquired a new position in Upexi during the 2nd quarter worth approximately $249,000. Millington Financial Advisors LLC acquired a new stake in shares of Upexi in the second quarter valued at about $60,000. Finally, NewGen Asset Management Ltd bought a new stake in shares of Upexi during the 2nd quarter worth approximately $1,720,000. Institutional investors and hedge funds own 5.68% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on UPXI. Wall Street Zen raised shares of Upexi to a "hold" rating in a research report on Friday, May 30th. Alliance Global Partners began coverage on Upexi in a research note on Monday, August 4th. They set a "buy" rating and a $15.00 price objective for the company. Finally, Cantor Fitzgerald raised Upexi to a "strong-buy" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Upexi presently has a consensus rating of "Strong Buy" and a consensus price target of $15.50.

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.