Millington Financial Advisors LLC Takes $60,000 Position in Upexi, Inc. $UPXI

Millington Financial Advisors LLC purchased a new position in shares of Upexi, Inc. (NASDAQ:UPXI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds also recently bought and sold shares of UPXI. Kathmere Capital Management LLC acquired a new position in Upexi in the 2nd quarter valued at about $6,535,000. NewGen Equity Long Short Fund acquired a new position in shares of Upexi in the 2nd quarter valued at $1,720,000. Geode Capital Management LLC acquired a new stake in shares of Upexi during the second quarter worth about $1,002,000. XTX Topco Ltd purchased a new position in shares of Upexi during the second quarter worth approximately $249,000. Finally, North Star Investment Management Corp. purchased a new stake in shares of Upexi in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 5.68% of the company’s stock.

Insiders Place Their Bets

In other Upexi news, Director Gene Salkind purchased 50,000 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average price of $2.55 per share, for a total transaction of $127,500.00. Following the completion of the purchase, the director directly owned 218,750 shares in the company, valued at approximately $557,812.50. This trade represents a 29.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.42% of the stock is currently owned by insiders.

Upexi Price Performance

NASDAQ:UPXI opened at $2.80 on Friday. The business’s 50-day moving average price is $4.71 and its 200 day moving average price is $6.46. 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 firm has a market cap of $167.48 million, a P/E ratio of -0.66 and a beta of -0.56. Upexi, Inc. has a 52-week low of $1.90 and a 52-week high of $22.57.

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

Upexi announced that its Board of Directors has authorized a share buyback plan on Thursday, November 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 25.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Alliance Global Partners started coverage on shares of Upexi in a report on Monday, August 4th. They set a “buy” rating and a $15.00 price target for the company. Cantor Fitzgerald dropped their price target on Upexi from $16.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, November 14th. Wall Street Zen upgraded Upexi from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Upexi in a research report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.50.

Upexi 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.