Upexi (NASDAQ:UPXI) Shares Gap Down - Time to Sell?

Key Points

• Upexi's stock price gapped down from $7.83 to $7.00 prior to trading on Thursday, with the last recorded price at $7.74 and a trading volume of 4,221,558 shares.
• Analysts initiated a strong-buy rating from Cantor Fitzgerald and a buy rating with a $15 price target from Alliance Global Partners, highlighting increasing confidence in the stock.
• Recent insider purchases included a Director buying over 20,000 shares, contributing to a total of 198,186 shares acquired by insiders, who now own 31.60% of the company's stock.

Shares of Upexi, Inc. (NASDAQ:UPXI - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $7.83, but opened at $7.00. Upexi shares last traded at $7.74, with a volume of 4,221,558 shares traded.

Analyst Ratings Changes

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

Upexi Stock Performance

The firm has a fifty day simple moving average of $6.31 and a 200-day simple moving average of $6.20. 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 announced its earnings results on Friday, May 16th. The company reported ($2.87) earnings per share (EPS) for the quarter. The firm 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 at Upexi

In other Upexi news, CEO Allan Marshall purchased 161,943 shares of Upexi stock in a transaction that occurred on Friday, July 11th. The stock was purchased at an average price of $4.94 per share, for a total transaction of $799,998.42. Following the transaction, the chief executive officer directly owned 1,046,261 shares in the company, valued at $5,168,529.34. This trade represents a 18.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence Dugan acquired 4,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were acquired at an average cost of $7.50 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director directly owned 116,389 shares in the company, valued at $872,917.50. The trade was a 3.56% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 198,186 shares of company stock worth $997,759 in the last 90 days. 4.42% of the stock is owned by insiders.

Institutional Trading of Upexi

Hedge funds have recently added to or reduced their stakes in the stock. 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 2nd quarter worth $45,000. Millington Financial Advisors LLC acquired a new stake in shares of Upexi in the 2nd quarter worth $60,000. XTX Topco Ltd purchased a new stake in shares of Upexi in the second quarter valued at about $249,000. Finally, Geode Capital Management LLC acquired a new position in shares of Upexi during the second quarter worth about $1,002,000. 5.68% of the stock is 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.