NextPlat Corp. (NASDAQ:NXPL) Stock Short Interest Drops 37.0%

NextPlat Corp. (NASDAQ:NXPL) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 3,291 shares, a drop of 37.0% from the August 31st total of 5,222 shares. Based on an average daily trading volume, of 31,718 shares, the short-interest ratio is currently 0.1 days. Approximately 0.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Zacks Research raised shares of NextPlat to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of NextPlat in a research report on Friday, August 7th. Wall Street Zen raised NextPlat to a “hold” rating in a research note on Saturday, August 22nd. Finally, Litchfield Hills Research started coverage on NextPlat in a research report on Wednesday, June 24th. They set a “buy” rating and a $11.00 target price on the stock. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.00.

NextPlat Stock Down 3.7%

NXPL stock traded down $0.33 during midday trading on Thursday, reaching $8.67. 1,385 shares of the company’s stock traded hands, compared to its average volume of 65,715. NextPlat has a 52 week low of $3.38 and a 52 week high of $11.10. The company has a market cap of $23.50 million, a price-to-earnings ratio of -2.36 and a beta of 1.94. The company has a quick ratio of 1.92, a current ratio of 2.29 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average price is $8.16 and its 200-day moving average price is $6.79.

NextPlat (NASDAQ:NXPL) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. NextPlat had a negative return on equity of 54.66% and a negative net margin of 20.38%.The firm had revenue of $11.88 million during the quarter, compared to analyst estimates of $11.00 million. As a group, sell-side analysts forecast that NextPlat will post -0.85 earnings per share for the current fiscal year.

NextPlat Company Profile

NextPlat Corporation (NASDAQ: NXPL) is a technology-driven company with operations in e-commerce and healthcare. Its e-commerce business sells consumer products through online marketplaces, including Amazon and Walmart, as well as through direct-to-consumer websites. The company also provides e-commerce development, marketplace management, marketing, logistics and related services to brands seeking to expand their online presence.

NextPlat’s healthcare operations are conducted through Progressive Care, a subsidiary that provides pharmacy and related healthcare services.