Wellgistics Health (NASDAQ:MEDS) Stock Falls 16.6% – Here’s Why

Wellgistics Health, Inc. (NASDAQ:MEDS)’s stock price dropped 16.6% on Monday. The company traded as low as $0.95 and last traded at $0.9845. 848,990 shares were traded during mid-day trading, a decline of 63% from the average session volume of 2,324,531 shares. The stock had previously closed at $1.18.

Wall Street Analyst Weigh In

Several research firms have issued reports on MEDS. Weiss Ratings reiterated a “sell (e+)” rating on shares of Wellgistics Health in a research note on Monday, September 21st. Wall Street Zen downgraded shares of Wellgistics Health to a “strong sell” rating in a research note on Saturday, October 10th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has an average rating of “Sell”.

Wellgistics Health Stock Performance

The company’s fifty day moving average price is $2.48 and its two-hundred day moving average price is $5.25.

Wellgistics Health (NASDAQ:MEDS) last posted its earnings results on Monday, August 17th. The company reported ($7.13) earnings per share (EPS) for the quarter. The firm had revenue of $1.78 million for the quarter.

Wellgistics Health Company Profile

Wellgistics Health, Inc. (NASDAQ: MEDS) is a healthcare technology and pharmaceutical services company focused on improving access to prescription medications. Through its platform and related services, the company connects pharmaceutical manufacturers, wholesalers, healthcare providers, pharmacies and patients within the prescription-drug supply chain. The company provides technology and logistical solutions intended to support medication ordering, distribution and fulfillment. Its offerings are designed to help independent pharmacies and other healthcare participants manage prescription access, streamline supply-chain processes and serve patients more efficiently.