Upexi (NASDAQ:UPXI) Shares Gap Up - Here's Why

Key Points

• Upexi's share price experienced a significant gap up, opening at $6.49 after closing at $6.11, with strong trading volume of 3,237,022 shares.
• Analysts have set a new price target for Upexi, with Cantor Fitzgerald upgrading the stock to an "overweight" rating and specifying a target price of $16.00.
• Recent insider purchases include 11,000 shares by Director Lawrence Dugan and 161,943 shares by CEO Allan Marshall, indicating increased confidence in the company's value by its leadership.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $6.11, but opened at $6.49. Upexi shares last traded at $6.16, with a volume of 3,237,022 shares traded.

Analyst Ratings Changes

A number of brokerages recently weighed in on UPXI. Cantor Fitzgerald upgraded Upexi from a "neutral" rating to an "overweight" rating and set a $16.00 price objective for the company in a research note on Monday, June 16th. Wall Street Zen raised Upexi to a "hold" rating in a research report on Friday, May 30th.

Upexi Trading Down 5.1%

The company has a 50-day moving average of $7.72 and a 200-day moving average of $5.95. 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 (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. Upexi had a negative net margin of 135.86% and a negative return on equity of 535.19%. The business had revenue of $3.16 million for the quarter.

Insiders Place Their Bets

In other Upexi news, Director Gene Salkind bought 20,243 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, with a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Allan Marshall bought 161,943 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were acquired at an average price of $4.94 per share, with a total value of $799,998.42. Following the completion of the transaction, the chief executive officer directly owned 1,046,261 shares of the company's stock, valued at $5,168,529.34. This trade represents a 18.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 198,186 shares of company stock valued at $997,759. 31.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Upexi

Several hedge funds have recently added to or reduced their stakes in UPXI. Bank of Montreal Can purchased a new stake in Upexi in the fourth quarter valued at $36,000. North Star Investment Management Corp. acquired a new stake in Upexi during the second quarter worth about $45,000. Finally, Kathmere Capital Management LLC acquired a new stake in Upexi during the second quarter worth about $6,535,000. 5.68% of the stock is owned by hedge funds and other institutional investors.

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.