Upexi, Inc. (NASDAQ:UPXI) Sees Significant Growth in Short Interest

Upexi, Inc. (NASDAQ:UPXI) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 12,400,000 shares, a growth of 128.8% from the August 31st total of 5,420,000 shares. Approximately 23.7% of the shares of the company are sold short. Based on an average trading volume of 8,520,000 shares, the short-interest ratio is currently 1.5 days. Based on an average trading volume of 8,520,000 shares, the short-interest ratio is currently 1.5 days. Approximately 23.7% of the shares of the company are sold short.

Analyst Ratings Changes

UPXI has been the subject of a number of research analyst reports. Cantor Fitzgerald raised shares of Upexi to a “strong-buy” rating in a research note on Wednesday, August 13th. Alliance Global Partners initiated coverage on Upexi in a report on Monday, August 4th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upexi in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Upexi Trading Up 2.1%

Shares of UPXI stock opened at $7.44 on Friday. Upexi has a 1-year low of $1.90 and a 1-year high of $22.57. The stock’s fifty day simple moving average is $6.37 and its 200-day simple moving average is $6.97.

Insiders Place Their Bets

In other Upexi news, Director Gene Salkind purchased 20,243 shares of Upexi stock in a transaction on Friday, July 11th. The stock was bought at an average price of $4.94 per share, for a total transaction of $100,000.42. Following the transaction, the director owned 385,370 shares of the company’s stock, valued at $1,903,727.80. The trade was a 5.54% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Allan Marshall purchased 161,943 shares of the stock in a transaction dated Friday, July 11th. The shares were acquired at an average cost of $4.94 per share, for a total transaction of $799,998.42. Following the completion of the acquisition, the chief executive officer directly owned 1,046,261 shares of the company’s stock, valued at approximately $5,168,529.34. This trade represents a 18.31% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 198,186 shares of company stock worth $997,759. 4.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upexi

A number of large investors have recently made changes to their positions in UPXI. North Star Investment Management Corp. purchased a new stake in shares of Upexi in the second quarter worth approximately $45,000. Millington Financial Advisors LLC purchased a new stake in Upexi in the 2nd quarter worth approximately $60,000. XTX Topco Ltd acquired a new stake in shares of Upexi during the 2nd quarter valued at $249,000. Geode Capital Management LLC acquired a new stake in shares of Upexi during the 2nd quarter valued at $1,002,000. Finally, NewGen Asset Management Ltd purchased a new position in shares of Upexi during the 2nd quarter valued at $1,720,000. 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.