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

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) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 5,420,000 shares, a decline of 50.6% from the August 15th total of 10,980,000 shares. Approximately 10.5% of the company's shares are short sold. Based on an average daily volume of 7,710,000 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 7,710,000 shares, the short-interest ratio is currently 0.7 days. Approximately 10.5% of the company's shares are short sold.

Upexi Trading Down 6.4%

Shares of NASDAQ:UPXI traded down $0.43 during midday trading on Monday, reaching $6.33. 5,171,600 shares of the company's stock traded hands, compared to its average volume of 5,713,000. 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 has a one year low of $1.90 and a one year high of $22.57. The stock has a 50 day moving average of $6.37 and a 200 day moving average of $6.65.

Insiders Place Their Bets

In other Upexi news, Director Gene Salkind acquired 20,243 shares of the business's stock in a transaction dated Friday, July 11th. The shares were purchased at an average cost of $4.94 per share, for a total transaction of $100,000.42. Following the transaction, the director owned 385,370 shares in the company, valued at $1,903,727.80. This represents a 5.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence Dugan bought 11,000 shares of Upexi stock in a transaction dated Wednesday, July 16th. The shares were acquired at an average cost of $5.69 per share, for a total transaction of $62,590.00. Following the completion of the purchase, the director directly owned 112,389 shares of the company's stock, valued at approximately $639,493.41. This trade represents a 10.85% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 198,186 shares of company stock valued at $997,759 in the last ninety days. Company insiders own 4.42% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NewGen Asset Management Ltd bought a new position in shares of Upexi during the second quarter valued at $1,720,000. Millington Financial Advisors LLC bought a new position in Upexi in the second quarter valued at about $60,000. XTX Topco Ltd bought a new position in Upexi in the second quarter valued at about $249,000. Geode Capital Management LLC purchased a new stake in Upexi in the second quarter worth about $1,002,000. Finally, Kathmere Capital Management LLC purchased a new stake in Upexi in the second quarter worth about $6,535,000. 5.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Upexi Company Profile

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.