Upexi (NASDAQ:UPXI) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Upexi (NASDAQ:UPXI) from a hold rating to a sell rating in a research report released on Saturday morning.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upexi in a research report on Tuesday, November 11th. Alliance Global Partners began coverage on shares of Upexi in a research note on Monday, August 4th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Cantor Fitzgerald lowered their price target on Upexi from $16.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.50.

Upexi Stock Up 2.0%

Shares of UPXI opened at $2.52 on Friday. The business has a fifty day moving average of $5.06 and a 200 day moving average of $6.73. The company has a market cap of $151.00 million, a PE ratio of -0.60 and a beta of -0.56. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.68. Upexi has a 52-week low of $1.90 and a 52-week high of $22.57.

Upexi (NASDAQ:UPXI) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $9.24 million for the quarter, compared to analysts’ expectations of $7.33 million. Upexi had a net margin of 264.25% and a negative return on equity of 30.42%.

Upexi announced that its board has initiated a share repurchase plan on Thursday, November 13th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 25.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Upexi

In other news, Director Gene Salkind bought 100,000 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average cost of $2.65 per share, for a total transaction of $265,000.00. Following the acquisition, the director directly owned 569,470 shares of the company’s stock, valued at $1,509,095.50. The trade was a 21.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 4.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Heights Capital Management Inc. acquired a new stake in shares of Upexi during the third quarter worth about $1,442,000. Alyeska Investment Group L.P. acquired a new position in Upexi during the third quarter worth $7,175,000. Nomura Holdings Inc. acquired a new position in shares of Upexi during the 3rd quarter worth $104,000. BlueCrest Capital Management Ltd purchased a new position in Upexi in the third quarter valued at about $407,000. Finally, Clear Street Group Inc. acquired a new stake in shares of Upexi in the 3rd quarter worth approximately $104,000. 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.