Wall Street Zen Upgrades Upexi (NASDAQ:UPXI) to Hold

Upexi (NASDAQ:UPXI) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Tuesday.

Several other equities analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Upexi in a research note on Monday, December 8th. Cantor Fitzgerald cut their price target on shares of Upexi from $16.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, November 14th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.50.

Upexi Stock Down 9.7%

Shares of NASDAQ:UPXI opened at $2.04 on Tuesday. Upexi has a fifty-two week low of $1.90 and a fifty-two week high of $22.57. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $3.89 and its 200-day simple moving average is $5.81. The company has a market cap of $128.95 million, a price-to-earnings ratio of -0.48 and a beta of -0.52.

Upexi (NASDAQ:UPXI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $9.24 million during the quarter, compared to analyst estimates 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 of Directors has initiated a stock repurchase program on Thursday, November 13th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 25.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Gene Salkind bought 100,000 shares of Upexi stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $2.65 per share, for a total transaction of $265,000.00. Following the purchase, the director owned 569,470 shares of the company’s stock, valued at approximately $1,509,095.50. This trade represents a 21.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 stock. Ameritas Advisory Services LLC bought a new position in shares of Upexi during the third quarter worth $26,000. Belpointe Asset Management LLC bought a new position in shares of Upexi in the 3rd quarter valued at about $58,000. Arkadios Wealth Advisors bought a new stake in shares of Upexi during the 3rd quarter worth approximately $58,000. GSA Capital Partners LLP bought a new position in shares of Upexi during the 3rd quarter worth approximately $66,000. Finally, Bank of America Corp DE increased its holdings in shares of Upexi by 3,733.8% in the third quarter. Bank of America Corp DE now owns 13,725 shares of the company’s stock valued at $79,000 after purchasing an additional 13,367 shares during the last quarter. Institutional investors and hedge funds own 5.68% of the company’s stock.

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.