Short Interest in Upexi, Inc. (NASDAQ:UPXI) Declines By 50.6%

Upexi, Inc. (NASDAQ:UPXI) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 5,420,000 shares, a drop of 50.6% from the August 15th total of 10,980,000 shares. Currently, 10.5% of the company’s stock are sold short. Based on an average daily trading volume, of 7,710,000 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 7,710,000 shares, the days-to-cover ratio is currently 0.7 days. Currently, 10.5% of the company’s stock are sold short.

Analysts Set New Price Targets

UPXI has been the subject of several analyst reports. Cantor Fitzgerald upgraded Upexi to a “strong-buy” rating in a report on Wednesday, August 13th. Wall Street Zen upgraded Upexi to a “hold” rating in a report on Friday, May 30th. Finally, Alliance Global Partners started coverage on Upexi in a report on Monday, August 4th. They set a “buy” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and an average target price of $15.50.

Upexi Stock Up 19.0%

Shares of NASDAQ:UPXI opened at $6.76 on Monday. The stock has a 50 day moving average of $6.31 and a 200 day moving average of $6.63. The company has a current ratio of 0.37, a quick ratio of 0.24 and a debt-to-equity ratio of 0.31. Upexi has a 12-month low of $1.90 and a 12-month high of $22.57.

Insider Buying and Selling at Upexi

In other news, Director Lawrence Dugan acquired 11,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was acquired at an average price of $5.69 per share, with a total value of $62,590.00. Following the completion of the transaction, the director owned 112,389 shares of the company’s stock, valued at $639,493.41. This represents a 10.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gene Salkind acquired 20,243 shares of the stock in a transaction on Friday, July 11th. The shares were purchased at an average cost of $4.94 per share, with a total value of $100,000.42. Following the transaction, the director directly owned 385,370 shares of the company’s stock, valued at approximately $1,903,727.80. This trade represents a 5.54% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 198,186 shares of company stock valued at $997,759. 4.42% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC bought a new position in shares of Upexi during the 2nd quarter valued at approximately $1,002,000. NewGen Asset Management Ltd bought a new position in Upexi in the 2nd quarter worth approximately $1,720,000. XTX Topco Ltd bought a new position in Upexi in the 2nd quarter worth approximately $249,000. Millington Financial Advisors LLC bought a new position in Upexi in the 2nd quarter worth approximately $60,000. Finally, Kathmere Capital Management LLC bought a new position in Upexi in the 2nd quarter worth approximately $6,535,000. 5.68% of the stock is currently owned by institutional investors.

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.