Wellgistics Health, Inc. (NASDAQ:WGRX) Short Interest Up 281.2% in May

Wellgistics Health, Inc. (NASDAQ:WGRX) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 10,201,616 shares, a growth of 281.2% from the April 30th total of 2,676,448 shares. Currently, 11.1% of the company’s stock are short sold. Based on an average daily trading volume, of 20,031,520 shares, the short-interest ratio is currently 0.5 days.

Wellgistics Health Stock Down 8.1%

WGRX stock traded down $0.30 during trading on Friday, hitting $3.42. 300,887 shares of the company’s stock were exchanged, compared to its average volume of 1,624,732. The business has a 50-day moving average price of $5.60 and a two-hundred day moving average price of $14.95. The stock has a market capitalization of $8.59 million, a price-to-earnings ratio of -0.08 and a beta of -1.17. Wellgistics Health has a 52-week low of $3.04 and a 52-week high of $128.00. The company has a current ratio of 0.09, a quick ratio of 0.03 and a debt-to-equity ratio of 1.86.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a research note on Friday, March 27th. Wall Street Zen upgraded Wellgistics Health to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Wellgistics Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd lifted its stake in Wellgistics Health by 195.1% in the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock valued at $42,000 after buying an additional 70,137 shares during the last quarter. Geode Capital Management LLC lifted its stake in Wellgistics Health by 81.0% in the fourth quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock valued at $195,000 after buying an additional 218,170 shares during the last quarter. Heights Capital Management Inc. purchased a new stake in Wellgistics Health in the third quarter valued at approximately $2,588,000. Finally, Raymond James Financial Inc. lifted its stake in Wellgistics Health by 593.8% in the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock valued at $52,000 after buying an additional 50,000 shares during the last quarter.

About Wellgistics Health

Founded in 2022, Wellgistics Health is a holding company for various existing and planned strategic businesses centered around pharmaceuticals and healthcare services. As a micro health ecosystem, our portfolio of companies consists of a pharmacy, wholesale operations, and a technology division with a novel platform for hub and clinical services. We are focused on improving the lives of patients while delivering unique solutions for pharmacies, providers, pharmaceutical manufacturers, and payors.