Upexi (NASDAQ:UPXI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Upexi (NASDAQ:UPXI) from a sell rating to a hold rating in a research report released on Tuesday morning.

Several other equities research analysts have also recently weighed in on the stock. Cantor Fitzgerald dropped their price target on shares of Upexi from $16.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Upexi in a research note on Monday, December 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.50.

Upexi Trading Up 0.5%

Shares of UPXI stock opened at $1.88 on Tuesday. The business has a 50-day moving average of $3.59 and a 200 day moving average of $5.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.41 and a quick ratio of 3.39. Upexi has a 1-year low of $1.86 and a 1-year high of $22.57. The stock has a market capitalization of $118.83 million, a PE ratio of -0.44 and a beta of -0.52.

Upexi (NASDAQ:UPXI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share 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 the consensus estimate 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 authorized a share repurchase plan on Thursday, November 13th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 25.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CEO Allan Marshall bought 50,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was bought at an average price of $2.07 per share, for a total transaction of $103,500.00. Following the purchase, the chief executive officer directly owned 3,996,261 shares in the company, valued at $8,272,260.27. This trade represents a 1.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gene Salkind purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were purchased at an average price of $2.55 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the director directly owned 218,750 shares of the company’s stock, valued at $557,812.50. This represents a 29.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 300,000 shares of company stock valued at $703,000 over the last 90 days. 4.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Upexi

Several institutional investors and hedge funds have recently added to or reduced their stakes in UPXI. North Star Investment Management Corp. purchased a new stake in shares of Upexi in the 2nd quarter worth about $45,000. Kathmere Capital Management LLC bought a new stake in Upexi during the second quarter worth about $6,535,000. Geode Capital Management LLC purchased a new stake in Upexi in the second quarter worth about $1,002,000. NewGen Equity Long Short Fund purchased a new stake in Upexi in the second quarter worth about $1,720,000. Finally, XTX Topco Ltd bought a new position in shares of Upexi during the second quarter valued at approximately $249,000. Hedge funds and other institutional investors 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.