Upexi (NASDAQ:UPXI) Trading 26.7% Higher - Here's Why

Shares of Upexi, Inc. (NASDAQ:UPXI - Get Free Report) were up 26.7% on Tuesday . The stock traded as high as $4.20 and last traded at $4.13. Approximately 9,494,470 shares changed 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.

Analysts Set New Price Targets

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

Upexi Stock Performance

The company has a current ratio of 0.37, a quick ratio of 0.24 and a debt-to-equity ratio of 0.31. The stock's 50 day simple moving average is $8.79 and its 200 day simple moving average is $5.74.

Upexi (NASDAQ:UPXI - Get Free Report) last issued its earnings results on Friday, May 16th. The company reported ($2.87) earnings per share for the quarter. The business 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%.

Insiders Place Their Bets

In other news, CEO Allan Marshall acquired 657,895 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The shares were acquired at an average price of $2.28 per share, with a total value of $1,500,000.60. Following the acquisition, the chief executive officer directly owned 809,318 shares in the company, valued at approximately $1,845,245.04. The trade was a 434.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gene Salkind acquired 241,229 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was purchased at an average cost of $2.28 per share, for a total transaction of $550,002.12. Following the acquisition, the director owned 365,127 shares in the company, valued at approximately $832,489.56. This trade represents a 194.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 942,984 shares of company stock valued at $2,150,004. Company insiders own 31.60% of the company's stock.

Institutional Trading of Upexi

An institutional investor recently bought a new position in Upexi stock. Bank of Montreal Can acquired a new position in Upexi, Inc. (NASDAQ:UPXI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,008 shares of the company's stock, valued at approximately $36,000. Bank of Montreal Can owned 0.81% of Upexi as of its most recent SEC filing. 5.68% of the stock is currently owned by institutional investors and hedge funds.

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.