Short Interest in Wellgistics Health, Inc. (NASDAQ:WGRX) Drops By 95.6%

Wellgistics Health, Inc. (NASDAQ:WGRX) was the target of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 444,588 shares, a decrease of 95.6% from the May 14th total of 10,201,616 shares. Approximately 24.2% of the shares of the company are sold short. Based on an average trading volume of 3,073,607 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Wellgistics Health

A number of institutional investors and hedge funds have recently made changes to their positions in WGRX. Geode Capital Management LLC grew its position in Wellgistics Health by 81.0% during the fourth quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock valued at $195,000 after buying an additional 218,170 shares during the period. Heights Capital Management Inc. bought a new position in Wellgistics Health in the third quarter worth approximately $2,588,000. Raymond James Financial Inc. raised its position in Wellgistics Health by 593.8% in the third 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. Finally, XTX Topco Ltd boosted its stake 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 acquiring an additional 70,137 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen upgraded shares of Wellgistics Health to a “sell” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Wellgistics Health Stock Down 9.7%

WGRX stock opened at $3.63 on Wednesday. The company has a market cap of $9.11 million, a price-to-earnings ratio of -0.08 and a beta of -1.45. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.03 and a current ratio of 0.09. The business’s 50-day moving average is $5.34 and its two-hundred day moving average is $13.61. Wellgistics Health has a fifty-two week low of $3.04 and a fifty-two week high of $97.50.

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.