Cantor Fitzgerald Issues Pessimistic Forecast for Upexi (NASDAQ:UPXI) Stock Price

Upexi (NASDAQ:UPXI) had its target price lowered by equities research analysts at Cantor Fitzgerald from $16.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 96.21% from the stock’s previous close.

Several other equities analysts have also recently commented on UPXI. Alliance Global Partners began coverage on shares of Upexi in a research note on Monday, August 4th. They set a “buy” rating and a $15.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upexi in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.50.

Upexi Trading Down 5.0%

UPXI traded down $0.16 during trading on Friday, hitting $3.06. 860,323 shares of the company’s stock were exchanged, compared to its average volume of 4,095,473. Upexi has a 1 year low of $1.90 and a 1 year high of $22.57. The stock has a 50 day moving average price of $5.44 and a 200 day moving average price of $7.17. The firm has a market cap of $180.08 million, a P/E ratio of -0.54 and a beta of -0.56.

Upexi (NASDAQ:UPXI) last posted its earnings results on Tuesday, November 11th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Upexi had a net margin of 264.25% and a negative return on equity of 73.05%. The business had revenue of $9.24 million for the quarter, compared to analyst estimates of $7.33 million.

Upexi announced that its Board of Directors has initiated a stock buyback program on Thursday, November 13th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to buy up to 25.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Upexi

A number of institutional investors have recently bought and sold shares of the business. North Star Investment Management Corp. bought a new stake in shares of Upexi in the second quarter valued at about $45,000. Kathmere Capital Management LLC bought a new position in Upexi in the 2nd quarter valued at approximately $6,535,000. Geode Capital Management LLC bought a new position in Upexi during the 2nd quarter worth $1,002,000. NewGen Equity Long Short Fund acquired a new stake in Upexi during the 2nd quarter valued at approximately $1,720,000. Finally, XTX Topco Ltd bought a new stake in Upexi in the second quarter worth approximately $249,000. Institutional investors and hedge funds own 5.68% of the company’s stock.

About Upexi

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.