Wellgistics Health, Inc. (NASDAQ:WGRX) Short Interest Down 35.9% in December

Wellgistics Health, Inc. (NASDAQ:WGRX) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 865,399 shares, a decrease of 35.9% from the November 30th total of 1,349,060 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 545,627 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 545,627 shares, the short-interest ratio is presently 1.6 days. Approximately 1.7% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WGRX. Weiss Ratings reissued a “sell (e+)” rating on shares of Wellgistics Health in a report on Monday, December 22nd. Wall Street Zen cut shares of Wellgistics Health from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Wellgistics Health currently has a consensus rating of “Sell”.

Wellgistics Health Stock Performance

NASDAQ:WGRX opened at $0.40 on Friday. Wellgistics Health has a 1 year low of $0.34 and a 1 year high of $7.04. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.39 and a quick ratio of 0.16. The business has a fifty day simple moving average of $0.58. The stock has a market capitalization of $36.30 million and a PE ratio of -0.35.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. grew its holdings in shares of Wellgistics Health by 593.8% in the 3rd quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after acquiring an additional 50,000 shares during the period. ORG Wealth Partners LLC acquired a new stake in Wellgistics Health in the third quarter valued at $89,000. Finally, Heights Capital Management Inc. purchased a new position in shares of Wellgistics Health in the third quarter valued at $2,588,000.

Wellgistics Health Company Profile

Founded in 2022, Wellgistics Health is a holding company for various existing and planned strategic businesses centered around pharmaceuticals and healthcare services. As a micro health ecosystem, our portfolio of companies consists of a pharmacy, wholesale operations, and a technology division with a novel platform for hub and clinical services. We are focused on improving the lives of patients while delivering unique solutions for pharmacies, providers, pharmaceutical manufacturers, and payors.