Upexi (NASDAQ:UPXI) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Upexi (NASDAQ:UPXI) from a hold rating to a sell rating in a research note released on Monday morning.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald lowered their price target on Upexi from $16.00 to $6.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Upexi in a research report on Monday, December 1st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.50.

Upexi Price Performance

Shares of UPXI stock opened at $2.61 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.41 and a quick ratio of 3.39. The company has a market capitalization of $164.98 million, a PE ratio of -0.62 and a beta of -0.52. The firm’s 50-day moving average is $4.35 and its two-hundred day moving average is $6.09. Upexi has a 12 month low of $1.90 and a 12 month high of $22.57.

Upexi (NASDAQ:UPXI) last released its quarterly 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 firm had revenue of $9.24 million for the quarter, compared to analysts’ expectations of $7.33 million.

Upexi declared that its Board of Directors has initiated a share repurchase program on Thursday, November 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to reacquire up to 25.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Upexi

In other news, Director Gene Salkind acquired 50,000 shares of Upexi stock in a transaction dated Thursday, November 20th. The shares were acquired at an average cost of $2.55 per share, for a total transaction of $127,500.00. Following the acquisition, the director owned 218,750 shares of the company’s stock, valued at $557,812.50. This trade represents a 29.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.42% of the company’s stock.

Hedge Funds Weigh In On Upexi

Large investors have recently bought and sold shares of the business. Kathmere Capital Management LLC purchased a new stake in Upexi during the 2nd quarter worth about $6,535,000. Alyeska Investment Group L.P. acquired a new stake in shares of Upexi during the 3rd quarter worth about $7,175,000. MMCAP International Inc. SPC purchased a new stake in Upexi during the third quarter worth approximately $4,425,000. UBS Group AG lifted its stake in Upexi by 1,988.7% during the third quarter. UBS Group AG now owns 757,244 shares of the company’s stock worth $4,369,000 after purchasing an additional 720,990 shares during the last quarter. Finally, Shariaportfolio Inc. acquired a new position in Upexi in the third quarter valued at approximately $3,593,000. Hedge funds and other institutional investors own 5.68% of the company’s stock.

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.