NewGen Equity Long Short Fund Makes New Investment in Upexi, Inc. $UPXI

NewGen Equity Long Short Fund acquired a new stake in shares of Upexi, Inc. (NASDAQ:UPXI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 577,193 shares of the company’s stock, valued at approximately $1,720,000. Upexi comprises about 1.0% of NewGen Equity Long Short Fund’s portfolio, making the stock its 19th largest holding. NewGen Equity Long Short Fund owned about 0.98% of Upexi as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Kathmere Capital Management LLC bought a new stake in shares of Upexi in the 2nd quarter worth approximately $6,535,000. Geode Capital Management LLC bought a new stake in Upexi in the second quarter valued at $1,002,000. Finally, North Star Investment Management Corp. bought a new position in Upexi in the 2nd quarter worth $45,000. 5.68% of the stock is owned by institutional investors.

Insider Buying and Selling at Upexi

In other news, Director Gene Salkind acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average cost of $2.65 per share, for a total transaction of $265,000.00. Following the acquisition, the director directly owned 569,470 shares in the company, valued at approximately $1,509,095.50. The trade was a 21.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 4.42% of the stock is owned by company insiders.

Upexi Stock Performance

Shares of UPXI opened at $2.91 on Wednesday. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.68. The stock has a market cap of $174.37 million, a P/E ratio of -0.51 and a beta of -0.56. The business’s 50 day moving average price is $5.27 and its 200-day moving average price is $6.89. Upexi, Inc. has a 52 week low of $1.90 and a 52 week high of $22.57.

Upexi (NASDAQ:UPXI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $9.24 million for the quarter, compared to analysts’ expectations of $7.33 million. Upexi had a net margin of 264.25% and a negative return on equity of 30.42%.

Upexi announced that its board has approved a share buyback program on Thursday, November 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 25.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on UPXI shares. Alliance Global Partners began coverage on shares of Upexi in a report on Monday, August 4th. They issued a “buy” rating and a $15.00 price objective for the company. Cantor Fitzgerald dropped their price target on Upexi from $16.00 to $6.00 and set an “overweight” rating on the stock in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upexi in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.50.

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.