NextPlat (NASDAQ:NXPL) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

NextPlat (NASDAQ:NXPL) released its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16, Zacks reports. The company had revenue of $11.88 million for the quarter, compared to analyst estimates of $11.00 million. NextPlat had a negative return on equity of 53.16% and a negative net margin of 20.38%.

Here are the key takeaways from NextPlat’s conference call:

• Second-quarter profitability improved sharply: consolidated gross margin reached a record 40%, up from 22% a year earlier, while net loss narrowed to $144,000 from $1.8 million.
• Healthcare revenue quality continued to improve, with contracted pharmacy revenue rising 136% year over year to $2.2 million and healthcare gross margin expanding to 46%. The company added a record six new 340B contracts during the quarter.
• Management expects to reach bottom-line profitability in the third quarter and sustain it into 2027, supported by onboarding 11 covered entities secured year to date and continued growth in contracted services.
• NextPlat agreed to acquire a profitable Pensacola-area pharmacy for $1.5 million in cash, targeted to close by the end of the third quarter; however, transaction and integration costs are expected to affect third-quarter results.
• E-commerce revenue increased 27% sequentially to $4.1 million, supported by global demand for satellite connectivity products, while a new online healthcare marketplace is expected to launch this quarter.

NextPlat Stock Performance

NextPlat stock opened at $8.24 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $22.33 million, a P/E ratio of -2.25 and a beta of 1.83. The stock’s 50 day moving average is $6.41 and its 200 day moving average is $5.97. NextPlat has a twelve month low of $3.38 and a twelve month high of $11.10.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in NextPlat stock. Citadel Advisors LLC bought a new position in NextPlat Corp. (NASDAQ:NXPL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 quarter. 1.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NXPL has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextPlat in a report on Friday, August 7th. Litchfield Hills Research began coverage on shares of NextPlat in a research report on Wednesday, June 24th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Zacks Research raised shares of NextPlat to a “hold” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.