Upexi, Inc. (NASDAQ:UPXI) Short Interest Up 128.8% in September

Upexi, Inc. (NASDAQ:UPXI) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 12,400,000 shares, an increase of 128.8% from the August 31st total of 5,420,000 shares. Approximately 23.7% of the company’s shares are sold short. Based on an average daily trading volume, of 8,520,000 shares, the short-interest ratio is presently 1.5 days. Based on an average daily trading volume, of 8,520,000 shares, the short-interest ratio is presently 1.5 days. Approximately 23.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several brokerages recently commented on UPXI. Alliance Global Partners assumed coverage on Upexi in a report on Monday, August 4th. They set a “buy” rating and a $15.00 target price on the stock. Cantor Fitzgerald upgraded shares of Upexi to a “strong-buy” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Upexi in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $15.50.

Insiders Place Their Bets

In other Upexi news, Director Gene Salkind acquired 20,243 shares of the company’s stock in a transaction dated Friday, July 11th. The stock was bought at an average price of $4.94 per share, with a total value of $100,000.42. Following the completion of the transaction, the director directly owned 385,370 shares of the company’s stock, valued at approximately $1,903,727.80. The trade was a 5.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lawrence Dugan bought 4,000 shares of Upexi stock in a transaction that occurred on Tuesday, July 22nd. The shares were acquired at an average price of $7.50 per share, for a total transaction of $30,000.00. Following the acquisition, the director directly owned 116,389 shares in the company, valued at approximately $872,917.50. This represents a 3.56% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 198,186 shares of company stock worth $997,759 over the last ninety days. 4.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. acquired a new stake in Upexi in the second quarter worth $45,000. Millington Financial Advisors LLC acquired a new stake in shares of Upexi in the 2nd quarter worth about $60,000. XTX Topco Ltd bought a new stake in Upexi in the 2nd quarter valued at about $249,000. Geode Capital Management LLC bought a new stake in Upexi in the 2nd quarter valued at about $1,002,000. Finally, NewGen Asset Management Ltd acquired a new position in Upexi during the 2nd quarter valued at about $1,720,000. Institutional investors and hedge funds own 5.68% of the company’s stock.

Upexi Price Performance

Shares of NASDAQ UPXI opened at $7.44 on Friday. The firm’s 50-day moving average price is $6.37 and its two-hundred day moving average price is $6.97. Upexi has a 52-week low of $1.90 and a 52-week high of $22.57.

Upexi Company Profile

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.