Upexi (NASDAQ:UPXI) Shares Down 4.5% - Time to 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) shares were down 4.5% during trading on Thursday . The stock traded as low as $6.00 and last traded at $6.33. Approximately 3,720,139 shares were traded during trading, a decline of 51% from the average daily volume of 7,626,352 shares. The stock had previously closed at $6.63.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on UPXI shares. Alliance Global Partners started coverage on shares of Upexi in a research note on Monday, August 4th. They set a "buy" rating and a $15.00 price target on the stock. Wall Street Zen raised shares of Upexi to a "hold" rating in a research note on Friday, May 30th. Finally, Cantor Fitzgerald raised shares of Upexi to a "strong-buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating and one has given 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 price target of $15.50.

Upexi Trading Down 4.6%

The company has a quick ratio of 0.24, a current ratio of 0.37 and a debt-to-equity ratio of 0.31. The business's 50 day simple moving average is $6.04 and its 200-day simple moving average is $6.54.

Insider Buying and Selling at Upexi

In other news, Director Gene Salkind purchased 20,243 shares of Upexi stock in a transaction dated Friday, July 11th. The shares were bought at an average cost of $4.94 per share, with a total value of $100,000.42. Following the completion of the transaction, the director directly owned 385,370 shares in the company, valued at $1,903,727.80. This trade represents a 5.54% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Allan Marshall purchased 161,943 shares of Upexi stock in a transaction dated Friday, July 11th. The shares were purchased at an average cost of $4.94 per share, for a total transaction of $799,998.42. Following the completion of the transaction, the chief executive officer owned 1,046,261 shares of the company's stock, valued at approximately $5,168,529.34. This represents a 18.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 198,186 shares of company stock valued at $997,759. 4.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Upexi

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC bought a new position in shares of Upexi during the second quarter worth $1,002,000. NewGen Asset Management Ltd bought a new position in shares of Upexi during the second quarter worth $1,720,000. XTX Topco Ltd bought a new position in shares of Upexi during the second quarter worth $249,000. Millington Financial Advisors LLC acquired a new stake in shares of Upexi during the second quarter worth $60,000. Finally, Kathmere Capital Management LLC acquired a new stake in shares of Upexi during the second quarter worth $6,535,000. 5.68% of the stock is owned by institutional investors.

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.