NextPlat Corp. (NASDAQ:NXPL) Sees Significant Drop in Short Interest

NextPlat Corp. (NASDAQ:NXPL) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 5,209 shares, a decline of 31.9% from the June 30th total of 7,645 shares. Based on an average daily volume of 39,473 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NXPL. Litchfield Hills Research began coverage on NextPlat in a research note on Wednesday, June 24th. They issued a “buy” rating and a $11.00 price objective for the company. Zacks Research raised shares of NextPlat to a “hold” rating in a research report on Thursday, June 25th. Finally, Weiss Ratings raised shares of NextPlat from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.00.

NextPlat Trading Down 1.9%

NASDAQ:NXPL opened at $6.05 on Friday. NextPlat has a 52 week low of $3.38 and a 52 week high of $11.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.12 and a current ratio of 2.56. The company has a market capitalization of $16.40 million, a P/E ratio of -1.40 and a beta of 1.87. The stock’s 50 day moving average price is $6.48 and its 200 day moving average price is $5.99.

NextPlat (NASDAQ:NXPL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.42) earnings per share for the quarter. NextPlat had a negative return on equity of 58.05% and a negative net margin of 23.14%.The firm had revenue of $9.86 million for the quarter. On average, research analysts forecast that NextPlat will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On NextPlat

A hedge fund recently bought a new stake in NextPlat stock. Citadel Advisors LLC acquired a new stake in NextPlat Corp. (NASDAQ:NXPL) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned 0.19% of NextPlat as of its most recent filing with the SEC. 1.30% of the stock is currently owned by hedge funds and other institutional investors.

NextPlat Company Profile

NextPlat Corp operates as a healthcare and e-commerce company in Europe, North America, South America, the Asia and Pacific, and Africa. The company operates full-service retail specialty services pharmacies that provides prescription pharmaceuticals prescription pharmaceuticals, third-party administration, risk and data management services, compounded medications, tele-pharmacy services, anti-retroviral medications, medication therapy management, contracted pharmacy services, and health practice risk management to healthcare organizations and providers, as well as supplies prescription medications to long-term care facilities.