NextPlat Corp. (NASDAQ:NXPL) Sees Significant Decline in Short Interest

NextPlat Corp. (NASDAQ:NXPL) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 11,956 shares, a decline of 63.8% from the May 31st total of 33,021 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 31,212 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NXPL shares. Litchfield Hills Research assumed coverage on NextPlat in a research report on Wednesday, June 24th. They issued a “buy” rating and a $11.00 price target on the stock. Zacks Research upgraded shares of NextPlat to a “hold” rating in a research report on Thursday. Finally, Weiss Ratings raised shares of NextPlat from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NextPlat presently has an average rating of “Hold” and an average target price of $11.00.

NextPlat Trading Up 5.5%

NXPL traded up $0.34 during trading on Monday, hitting $6.49. The company’s stock had a trading volume of 27,971 shares, compared to its average volume of 35,276. The firm has a market capitalization of $17.59 million, a P/E ratio of -1.50 and a beta of 1.90. NextPlat has a twelve month low of $3.38 and a twelve month high of $11.10. The stock’s fifty day moving average price is $6.41 and its 200-day moving average price is $5.92. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.05.

NextPlat (NASDAQ:NXPL) last released its earnings results on Thursday, May 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. The company had revenue of $9.86 million for the quarter. NextPlat had a negative net margin of 23.14% and a negative return on equity of 58.05%. Analysts anticipate that NextPlat will post -0.55 EPS for the current year.

Institutional Trading of NextPlat

A hedge fund recently bought a new position in NextPlat stock. Citadel Advisors LLC purchased a new position in shares of NextPlat Corp. (NASDAQ:NXPL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned 0.19% of NextPlat as of its most recent filing with the SEC. Institutional investors own 1.30% of the company’s stock.

NextPlat Company Profile

NextPlat Corp operates as a healthcare and e-commerce company in Europe, North America, South America, the Asia and Pacific, and Africa. The company operates full-service retail specialty services pharmacies that provides prescription pharmaceuticals prescription pharmaceuticals, third-party administration, risk and data management services, compounded medications, tele-pharmacy services, anti-retroviral medications, medication therapy management, contracted pharmacy services, and health practice risk management to healthcare organizations and providers, as well as supplies prescription medications to long-term care facilities.