Upexi (NASDAQ:UPXI) Price Target Cut to $6.00 by Analysts at Cantor Fitzgerald

Upexi (NASDAQ:UPXI) had its target price trimmed by Cantor Fitzgerald from $16.00 to $6.00 in a research report released on Friday, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on UPXI. Alliance Global Partners initiated coverage on Upexi in a research note on Monday, August 4th. They set a “buy” rating and a $15.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Upexi in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Upexi has an average rating of “Hold” and a consensus target price of $10.50.

Upexi Stock Down 7.1%

Upexi stock traded down $0.23 during trading hours on Friday, reaching $2.99. The stock had a trading volume of 4,788,376 shares, compared to its average volume of 4,671,431. Upexi has a 52 week low of $1.90 and a 52 week high of $22.57. The company has a market cap of $179.16 million, a price-to-earnings ratio of -0.53 and a beta of -0.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.41 and a quick ratio of 1.71. The business’s 50 day moving average price is $5.38 and its 200-day moving average price is $7.10.

Upexi (NASDAQ:UPXI) last posted its quarterly earnings data on Tuesday, November 11th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Upexi had a negative return on equity of 30.42% and a net margin of 264.25%.The firm had revenue of $9.24 million for the quarter, compared to the consensus estimate of $7.33 million.

Upexi announced that its board has approved a share buyback program on Thursday, November 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 25.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Upexi

A number of institutional investors have recently bought and sold shares of UPXI. Kathmere Capital Management LLC acquired a new stake in shares of Upexi in the second quarter worth $6,535,000. MMCAP International Inc. SPC acquired a new stake in Upexi during the 3rd quarter worth about $4,425,000. UBS Group AG raised its stake in shares of Upexi by 1,988.7% during the 3rd quarter. UBS Group AG now owns 757,244 shares of the company’s stock valued at $4,369,000 after buying an additional 720,990 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Upexi by 41.9% during the 3rd quarter. Vanguard Group Inc. now owns 710,744 shares of the company’s stock valued at $4,101,000 after buying an additional 209,907 shares during the last quarter. Finally, Shariaportfolio Inc. acquired a new position in shares of Upexi in the 3rd quarter valued at about $3,593,000. 5.68% of the stock is owned by hedge funds and other institutional investors.

About Upexi

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.