Short Interest in Wellgistics Health, Inc. (NASDAQ:WGRX) Drops By 95.6%

Wellgistics Health, Inc. (NASDAQ:WGRX) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 444,588 shares, a decline of 95.6% from the May 14th total of 10,201,616 shares. Based on an average daily volume of 3,073,607 shares, the days-to-cover ratio is presently 0.1 days. Currently, 24.2% of the shares of the company are sold short.

Institutional Trading of Wellgistics Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. increased 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 acquiring an additional 50,000 shares during the period. XTX Topco Ltd increased 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 acquiring an additional 70,137 shares during the period. Geode Capital Management LLC boosted its position 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 in the last quarter. Finally, Heights Capital Management Inc. acquired a new position in Wellgistics Health in the third quarter valued at about $2,588,000.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a report on Friday, March 27th. Wall Street Zen upgraded shares of Wellgistics Health to a “sell” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Wellgistics Health Price Performance

NASDAQ WGRX traded down $0.39 on Tuesday, reaching $3.63. The company’s stock had a trading volume of 41,424 shares, compared to its average volume of 1,656,560. The firm has a market cap of $9.11 million, a PE ratio of -0.08 and a beta of -1.45. The business has a 50-day moving average price of $5.34 and a 200 day moving average price of $13.61. Wellgistics Health has a 52 week low of $3.04 and a 52 week high of $97.50. The company has a current ratio of 0.09, a quick ratio of 0.03 and a debt-to-equity ratio of 1.86.

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.