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

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

Analyst Upgrades and Downgrades

WGRX has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Wellgistics Health to a “sell” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Wellgistics Health

Large investors have recently modified their holdings of the stock. XTX Topco Ltd lifted its position in shares of Wellgistics Health by 195.1% during the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock worth $42,000 after purchasing an additional 70,137 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Wellgistics Health by 593.8% during the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after purchasing an additional 50,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Wellgistics Health by 81.0% during the fourth quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock worth $195,000 after purchasing an additional 218,170 shares in the last quarter. Finally, Heights Capital Management Inc. acquired a new position in shares of Wellgistics Health during the third quarter worth approximately $2,588,000.

Wellgistics Health Price Performance

NASDAQ:WGRX traded down $0.39 on Tuesday, reaching $3.63. The stock had a trading volume of 41,424 shares, compared to its average volume of 1,656,560. Wellgistics Health has a 1-year low of $3.04 and a 1-year high of $97.50. The stock has a fifty day moving average price of $5.34 and a 200-day moving average price of $13.61. The company has a market capitalization of $9.11 million, a P/E ratio of -0.08 and a beta of -1.45. The company has a quick ratio of 0.03, a current ratio of 0.09 and a debt-to-equity ratio of 1.86.

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.