Wellgistics Health, Inc. (NASDAQ:WGRX) Sees Significant Growth in Short Interest

Wellgistics Health, Inc. (NASDAQ:WGRX) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,962,253 shares, an increase of 47.7% from the February 12th total of 1,328,141 shares. Based on an average trading volume of 2,285,589 shares, the short-interest ratio is presently 0.9 days. Currently, 3.9% of the shares of the company are sold short. Currently, 3.9% of the shares of the company are sold short. Based on an average trading volume of 2,285,589 shares, the short-interest ratio is presently 0.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wellgistics Health in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Wellgistics Health

Several hedge funds and other institutional investors have recently made changes to their positions in WGRX. Heights Capital Management Inc. purchased a new stake in Wellgistics Health in the 3rd quarter valued at $2,588,000. Geode Capital Management LLC raised its holdings in shares of Wellgistics Health by 81.0% during the 4th quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock worth $195,000 after acquiring an additional 218,170 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Wellgistics Health during the 3rd quarter valued at about $89,000. XTX Topco Ltd boosted its position in shares of Wellgistics Health by 195.1% during the 4th quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock valued at $42,000 after acquiring an additional 70,137 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Wellgistics Health by 593.8% in the third 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 during the period.

Wellgistics Health Stock Down 1.8%

WGRX stock opened at $0.16 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.16 and a debt-to-equity ratio of 1.86. The firm has a 50-day moving average of $0.31 and a two-hundred day moving average of $0.62. Wellgistics Health has a 12 month low of $0.16 and a 12 month high of $7.04. The company has a market cap of $14.66 million and a price-to-earnings ratio of -0.14.

About Wellgistics Health

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.