Upexi (NASDAQ:UPXI) Stock Price Up 26.7% - Here's What Happened

Upexi, Inc. (NASDAQ:UPXI - Get Free Report)'s stock price rose 26.7% on Tuesday . The company traded as high as $4.20 and last traded at $4.13. Approximately 9,494,470 shares traded hands during mid-day trading, an increase of 768% from the average daily volume of 1,093,281 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

UPXI has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Upexi to a "hold" rating in a report on Friday, May 30th. Cantor Fitzgerald raised shares of Upexi from a "neutral" rating to an "overweight" rating and set a $16.00 price target on the stock in a report on Monday, June 16th.

Upexi Trading Up 6.1%

The stock's fifty day moving average is $9.10 and its two-hundred day moving average is $5.71. The company has a quick ratio of 0.24, a current ratio of 0.37 and a debt-to-equity ratio of 0.31.

Upexi (NASDAQ:UPXI - Get Free Report) last released its quarterly earnings data on Friday, May 16th. The company reported ($2.87) EPS for the quarter. The business had revenue of $3.16 million for the quarter. Upexi had a negative net margin of 135.86% and a negative return on equity of 535.19%.

Insider Buying and Selling at Upexi

In other Upexi news, Director Gene Salkind acquired 241,229 shares of the company's stock in a transaction on Thursday, April 17th. The shares were acquired at an average cost of $2.28 per share, with a total value of $550,002.12. Following the completion of the acquisition, the director directly owned 365,127 shares in the company, valued at $832,489.56. This trade represents a 194.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew James Norstrud acquired 43,860 shares of the company's stock in a transaction on Thursday, April 17th. The shares were acquired at an average cost of $2.28 per share, for a total transaction of $100,000.80. Following the completion of the acquisition, the chief financial officer owned 59,138 shares of the company's stock, valued at approximately $134,834.64. The trade was a 287.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 942,984 shares of company stock valued at $2,150,004 over the last three months. 31.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upexi

A hedge fund recently bought a new stake in Upexi stock. Bank of Montreal Can acquired a new stake in shares of Upexi, Inc. (NASDAQ:UPXI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,008 shares of the company's stock, valued at approximately $36,000. Bank of Montreal Can owned about 0.81% of Upexi as of its most recent SEC filing. Institutional investors and hedge funds 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.