Short Interest in Upexi, Inc. (NASDAQ:UPXI) Grows By 30.3%

Upexi, Inc. (NASDAQ:UPXI) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 299,500 shares, an increase of 30.3% from the May 15th total of 229,900 shares. Based on an average daily trading volume, of 2,290,000 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.0% of the company’s shares are short sold.

Insider Buying and Selling

In other Upexi news, CFO Andrew James Norstrud bought 43,860 shares of the stock in a transaction on Thursday, April 17th. The stock was 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 now owns 59,138 shares in the company, valued at $134,834.64. This trade represents a 287.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gene Salkind acquired 241,229 shares of Upexi stock in a transaction dated Thursday, April 17th. The shares were bought at an average cost of $2.28 per share, with a total value of $550,002.12. Following the transaction, the director now owns 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. Insiders bought 942,984 shares of company stock valued at $2,150,004 over the last quarter. 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 purchased a new position in shares of Upexi, Inc. (NASDAQ:UPXI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,008 shares of the company’s stock, valued at approximately $36,000. Bank of Montreal Can owned 0.81% of Upexi at the end of the most recent quarter. Institutional investors and hedge funds own 5.68% of the company’s stock.

Upexi Trading Up 12.5%

UPXI opened at $10.79 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.24 and a current ratio of 0.37. Upexi has a fifty-two week low of $1.90 and a fifty-two week high of $22.57. The company’s 50-day moving average is $9.96 and its 200 day moving average is $5.73.

Upexi (NASDAQ:UPXI) last announced its earnings results on Friday, May 16th. The company reported ($2.87) earnings per share (EPS) for the quarter. The company 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Cantor Fitzgerald raised Upexi from a “neutral” rating to an “overweight” rating and set a $16.00 price objective for the company in a research note on Monday. Wall Street Zen raised shares of Upexi to a “hold” rating in a research report on Friday, May 30th.

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.