Upexi (NASDAQ:UPXI) Raised to “Hold” at Wall Street Zen

Upexi (NASDAQ:UPXI) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald decreased their target price on Upexi from $16.00 to $6.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Upexi in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Upexi currently has a consensus rating of “Hold” and an average target price of $10.50.

Upexi Stock Performance

Shares of Upexi stock opened at $1.87 on Tuesday. The firm has a fifty day moving average of $3.69 and a two-hundred day moving average of $5.73. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.39 and a current ratio of 3.41. The stock has a market capitalization of $118.20 million, a price-to-earnings ratio of -0.44 and a beta of -0.52. Upexi has a 52 week low of $1.86 and a 52 week high of $22.57.

Upexi (NASDAQ:UPXI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $9.24 million for the quarter, compared to analyst estimates of $7.33 million. Upexi had a negative return on equity of 30.42% and a net margin of 264.25%.

Upexi declared that its board has authorized a stock buyback plan on Thursday, November 13th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 25.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Upexi news, CEO Allan Marshall bought 50,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average cost of $2.07 per share, with a total value of $103,500.00. Following the purchase, the chief executive officer owned 3,996,261 shares in the company, valued at $8,272,260.27. This trade represents a 1.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gene Salkind bought 50,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were bought at an average price of $2.55 per share, for a total transaction of $127,500.00. Following the completion of the acquisition, the director directly owned 218,750 shares in the company, valued at approximately $557,812.50. This trade represents a 29.63% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 300,000 shares of company stock valued at $703,000. 4.42% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upexi

Several institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in Upexi in the 3rd quarter worth $26,000. Belpointe Asset Management LLC bought a new stake in shares of Upexi in the third quarter valued at about $58,000. Arkadios Wealth Advisors acquired a new position in shares of Upexi during the third quarter worth about $58,000. GSA Capital Partners LLP bought a new position in shares of Upexi during the third quarter worth about $66,000. Finally, Bank of America Corp DE grew its holdings in shares of Upexi by 3,733.8% during the third quarter. Bank of America Corp DE now owns 13,725 shares of the company’s stock worth $79,000 after buying an additional 13,367 shares in the last quarter. 5.68% of the stock is owned by 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.