Wellgistics Health (NASDAQ:WGRX) Shares Gap Down – What’s Next?

Wellgistics Health, Inc. (NASDAQ:WGRX)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.1350, but opened at $3.91. Wellgistics Health shares last traded at $4.00, with a volume of 185,340 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wellgistics Health in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Wellgistics Health Stock Down 7.3%

The business’s 50 day moving average price is $0.12 and its 200-day moving average price is $0.31. 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 company has a market cap of $481.94 million, a P/E ratio of -4.31 and a beta of -1.17.

Wellgistics Health (NASDAQ:WGRX) last posted its quarterly earnings data on Tuesday, May 19th. The company reported ($3.50) earnings per share for the quarter. Wellgistics Health had a negative return on equity of 1,617.25% and a negative net margin of 545.69%.The company had revenue of $1.56 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. raised its holdings in Wellgistics Health by 593.8% during the 3rd quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after purchasing an additional 50,000 shares during the last quarter. XTX Topco Ltd raised its holdings in Wellgistics Health by 195.1% during the 4th quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock worth $42,000 after purchasing an additional 70,137 shares during the last quarter. Geode Capital Management LLC raised its holdings in Wellgistics Health by 81.0% during the 4th quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock worth $195,000 after purchasing an additional 218,170 shares during the last quarter. Finally, Heights Capital Management Inc. bought a new stake in Wellgistics Health during the 3rd quarter worth about $2,588,000.

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.