Cantor Fitzgerald Lowers Upexi (NASDAQ:UPXI) Price Target to $6.00

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

Other equities analysts also recently issued reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Upexi in a research note on Tuesday. Alliance Global Partners initiated coverage on shares of Upexi in a research note on Monday, August 4th. They issued a “buy” rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.50.

Upexi Trading Down 5.0%

Shares of Upexi stock traded down $0.16 on Friday, hitting $3.06. The stock had a trading volume of 860,323 shares, compared to its average volume of 4,095,473. The company’s 50 day moving average price is $5.44 and its 200 day moving average price is $7.17. The stock has a market cap of $180.08 million, a price-to-earnings ratio of -0.54 and a beta of -0.56. Upexi has a 52-week low of $1.90 and a 52-week high of $22.57.

Upexi (NASDAQ:UPXI) last issued its quarterly earnings results on Tuesday, November 11th. The company reported ($0.12) earnings per share (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 73.05%. The company had revenue of $9.24 million during the quarter, compared to analyst estimates of $7.33 million.

Upexi declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 25.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Upexi

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new position in shares of Upexi during the 3rd quarter worth $26,000. North Star Investment Management Corp. purchased a new position in Upexi during the second quarter worth about $45,000. Belpointe Asset Management LLC purchased a new position in Upexi during the third quarter worth about $58,000. Arkadios Wealth Advisors acquired a new stake in Upexi in the 3rd quarter worth about $58,000. Finally, Millington Financial Advisors LLC purchased a new stake in Upexi in the 2nd quarter valued at about $60,000. 5.68% of the stock is currently owned by hedge funds and other institutional investors.

Upexi Company Profile

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.