NextPlat Corp (NASDAQ:NXPL) Short Interest Up 20.9% in March

NextPlat Corp (NASDAQ:NXPL) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 38,700 shares, an increase of 20.9% from the March 15th total of 32,000 shares. Based on an average daily volume of 12,200 shares, the days-to-cover ratio is presently 3.2 days. Currently, 0.6% of the company’s stock are short sold.

NextPlat Stock Down 20.9 %

Shares of NXPL stock traded down $0.39 during mid-day trading on Monday, reaching $1.48. 1,344,080 shares of the company’s stock traded hands, compared to its average volume of 683,309. The company has a quick ratio of 2.70, a current ratio of 3.07 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $1.49 and its 200-day moving average price is $1.62. The company has a market cap of $27.72 million, a P/E ratio of -5.92 and a beta of 1.16. NextPlat has a 12 month low of $1.21 and a 12 month high of $4.26.

Institutional Investors Weigh In On NextPlat

Several hedge funds have recently bought and sold shares of NXPL. Geode Capital Management LLC lifted its holdings in shares of NextPlat by 81.0% during the second quarter. Geode Capital Management LLC now owns 121,681 shares of the company’s stock valued at $331,000 after purchasing an additional 54,463 shares during the last quarter. Vanguard Group Inc. purchased a new position in NextPlat during the third quarter valued at $51,000. State Street Corp bought a new stake in NextPlat in the second quarter worth $31,000. Finally, BlackRock Inc. purchased a new stake in shares of NextPlat in the second quarter worth $29,000. Institutional investors own 1.30% of the company’s stock.

About NextPlat

NextPlat Corp, together with its subsidiaries, provides mobile satellite services (MSS) solutions for satellite-enabled voice, data, personnel and asset tracking, machine-to-machine, and Internet of Things (IoT) connectivity services in Europe, North America, South America, the Asia & Pacific, and Africa.