Upexi (NASDAQ:UPXI) Trading Down 4.5% - Should You Sell?

Key Points

• Upexi, Inc. (NASDAQ:UPXI) saw a stock price decline of 4.5% on Thursday, dropping to $6.33 with a significant decrease in trading volume.
• Several analysts have given Upexi a strong outlook, with an average target price of $15.50 and ratings varying from "buy" to "strong-buy."
• Insider activity included significant purchases by both a director and CEO, contributing to an overall increase in insider ownership of the company.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report)'s stock price traded down 4.5% on Thursday . The stock traded as low as $6.00 and last traded at $6.33. 3,720,139 shares changed hands during trading, a decline of 51% from the average session volume of 7,626,352 shares. The stock had previously closed at $6.63.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Cantor Fitzgerald raised shares of Upexi to a "strong-buy" rating in a research report on Wednesday, August 13th. Alliance Global Partners began coverage on Upexi in a research report on Monday, August 4th. They set 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 report 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and an average target price of $15.50.

Upexi Stock Down 0.7%

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 firm's 50 day simple moving average is $6.19 and its 200 day simple moving average is $6.55.

Insider Buying and Selling at Upexi

In other Upexi news, Director Lawrence Dugan acquired 4,000 shares of the firm's stock in a transaction on 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 purchase, the director owned 116,389 shares in the company, valued at approximately $872,917.50. The trade was a 3.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gene Salkind bought 20,243 shares of the firm's 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 purchase, the director owned 385,370 shares in the company, valued at approximately $1,903,727.80. This trade represents a 5.54% 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 worth $997,759. Company insiders own 4.42% of the company's stock.

Hedge Funds Weigh In On Upexi

Several institutional investors and hedge funds have recently modified their holdings of UPXI. Kathmere Capital Management LLC purchased a new position in shares of Upexi in the 2nd quarter valued at about $6,535,000. NewGen Asset Management Ltd acquired a new position in Upexi during the second quarter worth $1,720,000. Geode Capital Management LLC acquired a new position in Upexi during the second quarter worth $1,002,000. XTX Topco Ltd acquired a new position in Upexi during the second quarter worth $249,000. Finally, Millington Financial Advisors LLC acquired a new position in Upexi during the second quarter worth $60,000. Hedge funds and other institutional investors own 5.68% of the company's stock.

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.