NextPlat Corp. (NASDAQ:NXPL) Stock Short Interest Drops 37.0%

NextPlat Corp. (NASDAQ:NXPL) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 3,291 shares, a decline of 37.0% from the August 31st total of 5,222 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 31,718 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NXPL shares. Zacks Research raised shares of NextPlat to a “hold” rating in a research note on Thursday, June 25th. Wall Street Zen upgraded shares of NextPlat to a “hold” rating in a report on Saturday, August 22nd. Litchfield Hills Research assumed coverage on NextPlat in a research note on Wednesday, June 24th. They issued a “buy” rating and a $11.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NextPlat in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NextPlat has a consensus rating of “Hold” and an average price target of $11.00.

NextPlat Trading Down 3.7%

NXPL traded down $0.33 during midday trading on Thursday, hitting $8.67. 1,385 shares of the company were exchanged, compared to its average volume of 65,715. The firm’s 50 day moving average price is $8.16 and its 200-day moving average price is $6.79. NextPlat has a 1-year low of $3.38 and a 1-year high of $11.10. The firm has a market capitalization of $23.50 million, a P/E ratio of -2.36 and a beta of 1.94. The company has a quick ratio of 1.92, a current ratio of 2.29 and a debt-to-equity ratio of 0.05.

NextPlat (NASDAQ:NXPL) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. NextPlat had a negative return on equity of 54.66% and a negative net margin of 20.38%.The company had revenue of $11.88 million during the quarter, compared to analysts’ expectations of $11.00 million. As a group, equities analysts forecast that NextPlat will post -0.85 EPS for the current fiscal year.

About NextPlat

NextPlat Corporation (NASDAQ: NXPL) is a technology-driven company with operations in e-commerce and healthcare. Its e-commerce business sells consumer products through online marketplaces, including Amazon and Walmart, as well as through direct-to-consumer websites. The company also provides e-commerce development, marketplace management, marketing, logistics and related services to brands seeking to expand their online presence.

NextPlat’s healthcare operations are conducted through Progressive Care, a subsidiary that provides pharmacy and related healthcare services.