Cantor Fitzgerald Upgrades Upexi (NASDAQ:UPXI) to Strong-Buy

Key Points

• Cantor Fitzgerald upgraded Upexi's stock rating to "strong-buy," reflecting positive outlook and confidence in the company's performance.
• Upexi's shares increased by 17.6%, with current trading around $7.83 and significant fluctuation over the past year, showing a high of $22.57 and a low of $1.90.
• Recent insider transactions indicate strong confidence as both the director and CEO purchased significant shares, leading to an increase in their ownership stakes.

Upexi (NASDAQ:UPXI - Get Free Report) was upgraded by analysts at Cantor Fitzgerald to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

UPXI has been the subject of several other research reports. Alliance Global Partners assumed coverage on Upexi in a research note on Monday, August 4th. They issued a "buy" rating and a $15.00 price objective for the company. Wall Street Zen upgraded Upexi to a "hold" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Strong Buy" and an average target price of $15.50.

Upexi Price Performance

Shares of UPXI stock traded down $0.65 on Wednesday, hitting $6.27. The company's stock had a trading volume of 3,028,027 shares, compared to its average volume of 3,606,006. Upexi has a fifty-two week low of $1.90 and a fifty-two week high of $22.57. The stock's 50 day moving average is $6.43 and its 200-day moving average is $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 posted its quarterly earnings data on Friday, May 16th. The company reported ($2.87) earnings per share for the quarter. The firm had revenue of $3.16 million for the quarter. Upexi had a negative return on equity of 535.19% and a negative net margin of 135.86%.

Insider Activity

In other Upexi news, Director Gene Salkind purchased 20,243 shares of the company's stock in a transaction dated Friday, July 11th. The stock was purchased at an average price of $4.94 per share, for a total transaction of $100,000.42. Following the transaction, the director owned 385,370 shares in the company, valued at $1,903,727.80. The trade was a 5.54% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Allan Marshall bought 161,943 shares of the company'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 $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. The trade was a 18.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 198,186 shares of company stock worth $997,759. 4.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upexi

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in shares of Upexi in the fourth quarter worth $36,000. North Star Investment Management Corp. purchased a new stake in shares of Upexi during the second quarter valued at $45,000. Kathmere Capital Management LLC bought a new position in Upexi in the second quarter valued at about $6,535,000. Geode Capital Management LLC bought a new position in Upexi in the second quarter valued at about $1,002,000. Finally, NewGen Asset Management Ltd bought a new position in Upexi in the second quarter valued at about $1,720,000. 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.