Wellgistics Health, Inc. (NASDAQ:WGRX – Get Free Report) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 2,676,448 shares, a drop of 82.9% from the April 15th total of 15,634,585 shares. Based on an average daily trading volume, of 3,971,613 shares, the days-to-cover ratio is presently 0.7 days. Approximately 2.9% of the company’s shares are short sold.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd grew its position in Wellgistics Health by 195.1% in the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock worth $42,000 after acquiring an additional 70,137 shares during the period. Raymond James Financial Inc. grew its position in Wellgistics Health by 593.8% in the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after acquiring an additional 50,000 shares during the period. Geode Capital Management LLC grew its position in Wellgistics Health by 81.0% in the fourth quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock worth $195,000 after acquiring an additional 218,170 shares during the period. Finally, Heights Capital Management Inc. purchased a new position in Wellgistics Health in the third quarter worth approximately $2,588,000.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wellgistics Health in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.
Wellgistics Health Trading Down 6.5%
Wellgistics Health stock traded down $0.01 during trading on Tuesday, reaching $0.09. 639,629 shares of the company were exchanged, compared to its average volume of 8,829,850. Wellgistics Health has a 52-week low of $0.08 and a 52-week high of $3.00. The company has a market capitalization of $10.90 million, a P/E ratio of -0.06 and a beta of -1.17. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.09 and a quick ratio of 0.04. The stock’s 50 day simple moving average is $0.14 and its two-hundred day simple moving average is $0.35.
About Wellgistics Health
Founded in 2022, Wellgistics Health is a holding company for various existing and planned strategic businesses centered around pharmaceuticals and healthcare services. As a micro health ecosystem, our portfolio of companies consists of a pharmacy, wholesale operations, and a technology division with a novel platform for hub and clinical services. We are focused on improving the lives of patients while delivering unique solutions for pharmacies, providers, pharmaceutical manufacturers, and payors.
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