NextPlat Corp. (NASDAQ:NXPL) Shares Shorted: Short Interest Up 88.6% in October

NextPlat Corp. (NASDAQ:NXPL) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 5,570 shares, a growth of 88.6% from the September 30th total of 2,954 shares. Based on an average daily trading volume, of 8,964 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the shares of the company are sold short.

NextPlat Price Performance

NXPL opened at $8.11 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.92 and a current ratio of 2.29. NextPlat has a 1 year low of $3.38 and a 1 year high of $10.80. The company’s 50 day simple moving average is $9.03 and its 200 day simple moving average is $6.83. The stock has a market capitalization of $21.98 million, a PE ratio of -2.21 and a beta of 1.90.

NextPlat (NASDAQ:NXPL) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $11.00 million. As a group, sell-side analysts expect that NextPlat will post -0.85 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on NXPL. Wall Street Zen raised shares of NextPlat to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextPlat in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.00.

NextPlat Company Profile

NextPlat Corp. (NASDAQ: NXPL) is a technology-focused company operating in the e-commerce and healthcare sectors. The company develops and manages online commerce businesses, including the sale of consumer products through major digital marketplaces and direct-to-consumer channels.

Through its e-commerce operations, NextPlat provides online retail, marketplace management, and related digital commerce services designed to help brands market and distribute products across platforms such as Amazon, Walmart, eBay, and Shopify.