Short Interest in Wellgistics Health, Inc. (NASDAQ:WGRX) Drops By 82.9%

Wellgistics Health, Inc. (NASDAQ:WGRX) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 2,676,448 shares, a drop of 82.9% from the April 15th total of 15,634,585 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average daily volume of 3,971,613 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Trading of Wellgistics Health

Several large investors have recently added to or reduced their stakes in the business. Heights Capital Management Inc. acquired a new stake in Wellgistics Health in the 3rd quarter valued at approximately $2,588,000. Geode Capital Management LLC increased its position 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 acquiring an additional 218,170 shares during the period. XTX Topco Ltd increased its position in Wellgistics Health by 195.1% in 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 period. Finally, Raymond James Financial Inc. increased its position in 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.

Wellgistics Health Stock Up 23.1%

WGRX opened at $0.10 on Thursday. Wellgistics Health has a 12 month low of $0.07 and a 12 month high of $3.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.09 and a quick ratio of 0.04. The stock has a market cap of $12.29 million, a P/E ratio of -0.07 and a beta of -1.17. The stock’s 50 day moving average price is $0.13 and its 200 day moving average price is $0.35.

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.