Wellgistics Health (NASDAQ:WGRX) Shares Down 1.6% – Should You Sell?

Wellgistics Health, Inc. (NASDAQ:WGRX) shares fell 1.6% during mid-day trading on Monday . The stock traded as low as $0.2863 and last traded at $0.3069. 380,733 shares changed hands during trading, an increase of 16% from the average session volume of 327,433 shares. The stock had previously closed at $0.3118.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Wellgistics Health in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Wellgistics Health Trading Down 1.6%

The firm has a market capitalization of $27.54 million and a price-to-earnings ratio of -0.26. The business’s 50-day moving average price is $0.44 and its 200 day moving average price is $0.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.39 and a quick ratio of 0.16.

Institutional Trading of Wellgistics Health

Several large investors have recently modified their holdings of the business. Heights Capital Management Inc. acquired a new position in shares of Wellgistics Health in the third quarter worth about $2,588,000. Geode Capital Management LLC grew its stake in Wellgistics Health by 81.0% during the 4th quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock valued at $195,000 after purchasing an additional 218,170 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in Wellgistics Health during the 3rd quarter worth approximately $89,000. Finally, Raymond James Financial Inc. raised its position 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 valued at $52,000 after purchasing an additional 50,000 shares in the last quarter.

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.