Upexi, Inc. (NASDAQ:UPXI) Sees Significant Decrease in Short Interest

Key Points

• Upexi, Inc. saw a substantial 50.6% drop in short interest in August, decreasing from 10,980,000 shares to 5,420,000 shares, with approximately 10.5% of its shares currently short sold.
• Insider trading activity included Director Lawrence Dugan purchasing 4,000 shares and CEO Allan Marshall acquiring 161,943 shares, indicating increased confidence as they raised their ownership stakes by 3.56% and 18.31%, respectively.
• Recent analyst coverage has provided a consensus rating of "Strong Buy" for Upexi, with a price target set between $15.00 and $15.50, highlighting positive market sentiment.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 5,420,000 shares, a drop of 50.6% from the August 15th total of 10,980,000 shares. Based on an average trading volume of 7,710,000 shares, the days-to-cover ratio is currently 0.7 days. Currently, 10.5% of the company's stock are sold short. Currently, 10.5% of the company's stock are sold short. Based on an average trading volume of 7,710,000 shares, the days-to-cover ratio is currently 0.7 days.

Insider Buying and Selling at Upexi

In other news, Director Gene Salkind acquired 20,243 shares of the stock in a transaction on Friday, July 11th. The stock was bought at an average price of $4.94 per share, with a total value of $100,000.42. Following the completion of the transaction, the director directly owned 385,370 shares of the company's stock, valued at $1,903,727.80. The trade was a 5.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Dugan acquired 4,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was purchased at an average cost of $7.50 per share, with a total value of $30,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 198,186 shares of company stock valued at $997,759 over the last 90 days. 4.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. North Star Investment Management Corp. acquired a new position in Upexi during the second quarter worth about $45,000. Millington Financial Advisors LLC purchased a new position in Upexi in the 2nd quarter worth about $60,000. XTX Topco Ltd purchased a new position in Upexi in the 2nd quarter worth about $249,000. Geode Capital Management LLC purchased a new position in Upexi in the 2nd quarter worth about $1,002,000. Finally, NewGen Asset Management Ltd purchased a new position in Upexi in the 2nd quarter worth about $1,720,000. 5.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UPXI has been the subject of several research analyst reports. Cantor Fitzgerald upgraded Upexi to a "strong-buy" rating in a research note on Wednesday, August 13th. Alliance Global Partners initiated coverage on Upexi in a research note on Monday, August 4th. They set a "buy" rating and a $15.00 target price for the company. Finally, Wall Street Zen upgraded Upexi to a "hold" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Strong Buy" and a consensus target price of $15.50.

Upexi Stock Up 12.0%

UPXI traded up $0.73 during trading hours on Thursday, hitting $6.82. 6,560,934 shares of the stock were exchanged, compared to its average volume of 5,766,695. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.24 and a current ratio of 0.37. Upexi has a 12 month low of $1.90 and a 12 month high of $22.57. The stock has a 50-day simple moving average of $6.48 and a 200-day simple moving average of $6.67.

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.