Short Interest in NextPlat Corp. (NASDAQ:NXPL) Drops By 31.9%

NextPlat Corp. (NASDAQ:NXPL) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 5,209 shares, a decrease of 31.9% from the June 30th total of 7,645 shares. Based on an average trading volume of 39,473 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.4% of the company’s stock are short sold.

Hedge Funds Weigh In On NextPlat

An institutional investor recently bought a new position in NextPlat stock. Citadel Advisors LLC acquired a new stake in NextPlat Corp. (NASDAQ:NXPL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned about 0.19% of NextPlat at the end of the most recent reporting period. 1.30% of the stock is owned by hedge funds and other institutional investors.

NextPlat Stock Down 1.9%

NextPlat stock opened at $6.05 on Friday. The business’s 50-day simple moving average is $6.48 and its two-hundred day simple moving average is $5.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.12 and a current ratio of 2.56. The company has a market cap of $16.40 million, a PE ratio of -1.40 and a beta of 1.87. NextPlat has a fifty-two week low of $3.38 and a fifty-two week high of $11.10.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Litchfield Hills Research initiated coverage on shares of NextPlat in a research note on Wednesday, June 24th. They issued a “buy” rating and a $11.00 target price for the company. Zacks Research upgraded shares of NextPlat to a “hold” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings raised shares of NextPlat from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.00.

About NextPlat

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.