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

NextPlat Corp. (NASDAQ:NXPL) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 7,645 shares, a decrease of 36.1% from the June 15th total of 11,956 shares. Based on an average daily volume of 40,854 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Institutional Trading of NextPlat

A hedge fund recently bought a new position in NextPlat stock. Citadel Advisors LLC acquired a new position in NextPlat Corp. (NASDAQ:NXPL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned 0.19% of NextPlat at the end of the most recent quarter. Hedge funds and other institutional investors own 1.30% of the company’s stock.

NextPlat Stock Down 4.1%

NXPL stock opened at $5.81 on Friday. 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 $15.75 million, a price-to-earnings ratio of -1.34 and a beta of 1.87. NextPlat has a fifty-two week low of $3.38 and a fifty-two week high of $11.10. The stock has a fifty day moving average of $6.51 and a 200-day moving average of $5.98.

NextPlat (NASDAQ:NXPL) last announced its quarterly earnings data 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 during the quarter. As a group, equities research analysts predict that NextPlat will post -0.55 earnings per share for the current year.

About NextPlat

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.