Short Interest in Wellgistics Health, Inc. (NASDAQ:WGRX) Rises By 219.6%

Wellgistics Health, Inc. (NASDAQ:WGRX) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 6,271,116 shares, a growth of 219.6% from the February 26th total of 1,962,253 shares. Based on an average daily volume of 7,921,583 shares, the days-to-cover ratio is currently 0.8 days. Approximately 12.6% of the company’s shares are sold short.

Institutional Investors Weigh In On Wellgistics Health

A number of institutional investors have recently made changes to their positions in WGRX. Raymond James Financial Inc. raised its stake 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 acquiring an additional 50,000 shares during the period. 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 worth $42,000 after purchasing an additional 70,137 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of Wellgistics Health during the 3rd quarter worth approximately $89,000. Geode Capital Management LLC increased its holdings in Wellgistics Health by 81.0% in 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 during the last quarter. Finally, Heights Capital Management Inc. acquired a new stake in Wellgistics Health in the 3rd quarter valued at approximately $2,588,000.

Wellgistics Health Stock Performance

Shares of Wellgistics Health stock opened at $0.11 on Friday. The firm has a market cap of $11.66 million and a PE ratio of -0.08. The company has a quick ratio of 0.16, a current ratio of 0.09 and a debt-to-equity ratio of 1.86. Wellgistics Health has a 52 week low of $0.11 and a 52 week high of $7.04. The business’s fifty day simple moving average is $0.26 and its 200-day simple moving average is $0.54.

Wellgistics Health (NASDAQ:WGRX) last issued its quarterly earnings data on Friday, March 20th. The company reported ($0.13) earnings per share (EPS) for the quarter. The business had revenue of $1.67 million for the quarter. Wellgistics Health had a negative return on equity of 2,114.73% and a negative net margin of 433.95%.

Wall Street Analysts Forecast Growth

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

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.