Upexi (NASDAQ:UPXI) Sees Unusually-High Trading Volume - Time to Buy?

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) saw strong trading volume on Monday . 3,259,540 shares changed hands during 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 Ratings Changes

A number of research firms have recently issued reports on UPXI. Cantor Fitzgerald raised shares of Upexi from a "neutral" rating to an "overweight" rating and set a $16.00 price target for the company in a research report on Monday, June 16th. Alliance Global Partners began coverage on shares of 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 shares of Upexi to a "hold" rating in a research report on Friday, May 30th.

Upexi Stock Down 7.8%

The business's 50-day moving average price is $6.95 and its 200-day moving average price is $6.07. The company has a quick ratio of 0.24, a current ratio of 0.37 and a debt-to-equity ratio of 0.31.

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

Insider Activity at Upexi

In related news, Director Gene Salkind purchased 20,243 shares of the stock in a transaction on Friday, July 11th. The shares were bought at an average price of $4.94 per share, for a total transaction of $100,000.42. Following the completion of the acquisition, the director directly owned 385,370 shares in the company, valued at approximately $1,903,727.80. This trade represents a 5.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence Dugan purchased 11,000 shares of the stock in a transaction on Wednesday, July 16th. The shares were bought at an average price of $5.69 per share, for a total transaction of $62,590.00. Following the acquisition, the director owned 112,389 shares of the company's stock, valued at approximately $639,493.41. The trade was a 10.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 198,186 shares of company stock valued at $997,759. 31.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Upexi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UPXI. Kathmere Capital Management LLC acquired a new position in Upexi during the second quarter valued at approximately $6,535,000. Geode Capital Management LLC acquired a new stake in shares of Upexi in the second quarter worth $1,002,000. North Star Investment Management Corp. acquired a new stake in shares of Upexi in the second quarter worth $45,000. Finally, Bank of Montreal Can acquired a new stake in shares of Upexi in the fourth quarter worth $36,000. Institutional investors and hedge funds own 5.68% of the company's stock.

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.

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