Short Interest in Wellgistics Health, Inc. (NASDAQ:WGRX) Rises By 281.2%

Wellgistics Health, Inc. (NASDAQ:WGRX) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 10,201,616 shares, a growth of 281.2% from the April 30th total of 2,676,448 shares. Approximately 11.1% of the shares of the company are short sold. Based on an average daily volume of 20,031,520 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. grew its stake in shares of Wellgistics Health by 593.8% in the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after acquiring an additional 50,000 shares during the last quarter. XTX Topco Ltd raised its position in shares of Wellgistics Health by 195.1% in 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 position in shares of Wellgistics Health by 81.0% in 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 position in Wellgistics Health in the 3rd quarter worth about $2,588,000.

Wall Street Analyst Weigh In

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.com, the stock currently has a consensus rating of “Sell”.

Wellgistics Health Price Performance

Shares of Wellgistics Health stock traded down $0.06 during trading on Friday, hitting $3.66. 128,068 shares of the stock traded hands, compared to its average volume of 472,142. The stock has a market cap of $9.18 million, a price-to-earnings ratio of -0.08 and a beta of -1.17. The company has a quick ratio of 0.03, a current ratio of 0.09 and a debt-to-equity ratio of 1.86. Wellgistics Health has a 52 week low of $3.04 and a 52 week high of $128.00. The firm’s fifty day moving average is $5.66 and its 200-day moving average is $15.04.

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

Wellgistics Health Company Profile

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.