Upexi (NASDAQ:UPXI) Shares Down 9.9% - Should You Sell?

Key Points

• Upexi's stock price dropped by 9.9%, trading as low as $4.78, amidst a significant decline in trading volume, indicating investor concerns.
• Analysts have upgraded Upexi's stock ratings, with Cantor Fitzgerald setting a target price of $16.00, suggesting a positive outlook despite recent price declines.
• Insider transactions show confidence in the company, as notable purchases were made by Director Lawrence Dugan and CEO Allan Marshall, increasing their respective stakes in Upexi.

Upexi, Inc. (NASDAQ:UPXI - Get Free Report)'s stock price traded down 9.9% during mid-day trading on Wednesday . The company traded as low as $4.78 and last traded at $4.89. 6,044,214 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 12,565,112 shares. The stock had previously closed at $5.43.

Analysts Set New Price Targets

A number of analysts have weighed in on UPXI shares. Cantor Fitzgerald upgraded Upexi from a "neutral" rating to an "overweight" rating and set a $16.00 price target on the stock in a research note on Monday, June 16th. Wall Street Zen upgraded Upexi to a "hold" rating in a research report on Friday, May 30th.

Upexi Stock Performance

The company has a 50-day moving average of $7.42 and a 200-day moving average of $5.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.24.

Upexi (NASDAQ:UPXI - Get Free Report) last announced its quarterly earnings data on Friday, May 16th. The company reported ($2.87) earnings per share 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 during the quarter.

Insider Transactions at Upexi

In other news, CEO Allan Marshall acquired 161,943 shares of the firm's stock in a transaction on Friday, July 11th. The stock was bought at an average cost of $4.94 per share, with a total value of $799,998.42. Following the transaction, the chief executive officer directly owned 1,046,261 shares in the company, valued at approximately $5,168,529.34. This represents a 18.31% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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, for a total transaction of $100,000.42. Following the transaction, the director directly owned 385,370 shares of the company's stock, valued at approximately $1,903,727.80. The trade was a 5.54% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 198,186 shares of company stock worth $997,759 in the last ninety days. Insiders own 31.60% of the company's stock.

Hedge Funds Weigh In On Upexi

Large investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of Upexi during the fourth quarter worth about $36,000. Kathmere Capital Management LLC acquired a new stake in Upexi during the second quarter worth about $6,535,000. Finally, North Star Investment Management Corp. acquired a new stake in Upexi during the second quarter worth about $45,000. Institutional investors 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.