Upexi (NASDAQ:UPXI) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Upexi (NASDAQ: UPXI) experienced an unusual trading volume with over 3.2 million shares traded, although this reflects a 1% decline from the previous session.
• Analysts have issued mixed ratings on Upexi, with Cantor Fitzgerald upgrading the stock to "overweight" and setting a price target of $16.00, while other firms have started coverage with buy ratings.
• The company reported a net loss of ($2.87) earnings per share in its last quarterly earnings, indicating challenges with a negative net margin of 135.86%.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 3,259,540 shares changed hands during mid-day trading, a decline of 1% from the previous session's volume of 3,299,395 shares.The stock last traded at $6.05 and had previously closed at $6.04.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on UPXI shares. Cantor Fitzgerald raised Upexi to a "strong-buy" rating in a report on Wednesday. Alliance Global Partners assumed coverage on Upexi in a research report on Monday, August 4th. They issued a "buy" rating and a $15.00 price target for the company. Finally, Wall Street Zen raised Upexi to a "hold" rating in a research note on Friday, May 30th.

Upexi Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.24 and a current ratio of 0.37. The stock's 50 day moving average price is $6.53 and its two-hundred day moving average price is $6.14.

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

Insider Activity at Upexi

In other news, Director Lawrence Dugan purchased 4,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was acquired at an average cost of $7.50 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the director directly owned 116,389 shares in the company, valued at $872,917.50. This represents a 3.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gene Salkind acquired 20,243 shares of Upexi stock in a transaction that occurred on 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 purchase, the director directly owned 385,370 shares of the company's stock, valued at approximately $1,903,727.80. This trade represents a 5.54% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 198,186 shares of company stock valued at $997,759 over the last quarter. Insiders own 31.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in shares of Upexi during the fourth quarter worth $36,000. North Star Investment Management Corp. purchased a new position in Upexi during the second quarter worth about $45,000. Millington Financial Advisors LLC acquired a new stake in Upexi in the 2nd quarter worth about $60,000. XTX Topco Ltd acquired a new stake in Upexi in the 2nd quarter worth about $249,000. Finally, Geode Capital Management LLC purchased a new stake in Upexi in the 2nd quarter valued at about $1,002,000. 5.68% of the stock is currently owned by institutional investors and hedge funds.

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.