Upexi, Inc. (NASDAQ:UPXI) Sees Significant Decline in Short Interest

Upexi, Inc. (NASDAQ:UPXI) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 495,200 shares, a drop of 21.7% from the August 15th total of 632,600 shares. Approximately 3.3% of the company’s shares are short sold. Based on an average daily volume of 916,300 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Upexi

A hedge fund recently bought a new stake in Upexi stock. Victory Capital Management Inc. purchased a new stake in Upexi, Inc. (NASDAQ:UPXI) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 34,553 shares of the company’s stock, valued at approximately $40,000. Victory Capital Management Inc. owned about 0.17% of Upexi as of its most recent SEC filing. 5.68% of the stock is owned by institutional investors and hedge funds.

Upexi Stock Performance

Shares of NASDAQ:UPXI opened at $0.19 on Friday. The business has a fifty day simple moving average of $0.28 and a 200-day simple moving average of $0.42. Upexi has a 52 week low of $0.18 and a 52 week high of $1.99. The company has a quick ratio of 0.33, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

Upexi (NASDAQ:UPXI) last issued its quarterly earnings results on Tuesday, July 9th. The company reported ($0.20) earnings per share (EPS) for the quarter. Upexi had a negative return on equity of 54.97% and a negative net margin of 28.34%. The business had revenue of $14.45 million during the quarter.

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.