Upexi (NASDAQ:UPXI) Stock Rating Upgraded by Wall Street Zen

Upexi (NASDAQ:UPXI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other research analysts have also commented on the stock. 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 price objective on the stock. Cantor Fitzgerald lowered their price target on Upexi from $16.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Upexi in a research note on Monday, November 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Upexi has a consensus rating of “Hold” and an average price target of $10.50.

Upexi Stock Performance

UPXI stock opened at $2.65 on Friday. The company has a market capitalization of $158.79 million, a P/E ratio of -0.63 and a beta of -0.52. The company has a 50-day simple moving average of $4.64 and a 200 day simple moving average of $6.39. Upexi has a fifty-two week low of $1.90 and a fifty-two week high of $22.57. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.68.

Upexi (NASDAQ:UPXI) last released its earnings results on Wednesday, November 12th. The company reported ($0.12) EPS 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 30.42%. The company had revenue of $9.24 million for the quarter, compared to analyst estimates of $7.33 million.

Upexi announced that its board has approved a share repurchase plan on Thursday, November 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 25.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Upexi

In other news, Director Gene Salkind purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $2.65 per share, for a total transaction of $265,000.00. Following the completion of the acquisition, the director directly owned 569,470 shares of the company’s stock, valued at $1,509,095.50. The trade was a 21.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Upexi

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in Upexi during the 3rd quarter worth approximately $26,000. Belpointe Asset Management LLC acquired a new stake in shares of Upexi in the third quarter worth $58,000. Arkadios Wealth Advisors acquired a new stake in shares of Upexi in the third quarter worth $58,000. GSA Capital Partners LLP purchased a new position in shares of Upexi during the third quarter valued at $66,000. Finally, Bank of America Corp DE raised its position in Upexi by 3,733.8% during the third quarter. Bank of America Corp DE now owns 13,725 shares of the company’s stock valued at $79,000 after buying an additional 13,367 shares during the period. 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.