Insider Buying: Upexi (NASDAQ:UPXI) Director Purchases 100,000 Shares of Stock

by · The Cerbat Gem

Upexi, Inc. (NASDAQ:UPXI – Get Free Report) Director Gene Salkind acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $2.65 per share, for a total transaction of $265,000.00. Following the purchase, the director owned 569,470 shares of the company’s stock, valued at $1,509,095.50. This represents a 21.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Upexi Stock Up 11.9%

NASDAQ UPXI traded up $0.31 on Tuesday, reaching $2.91. 4,003,165 shares of the stock traded hands, compared to its average volume of 4,866,707. Upexi, Inc. has a 12 month low of $1.90 and a 12 month high of $22.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.39 and a current ratio of 3.41. The company has a fifty day moving average price of $5.27 and a 200-day moving average price of $6.89. The company has a market cap of $174.37 million, a price-to-earnings ratio of -0.51 and a beta of -0.56.

Upexi (NASDAQ:UPXI – Get Free Report) last released its quarterly earnings data on Tuesday, November 11th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Upexi had a net margin of 264.25% and a negative return on equity of 30.42%. The firm had revenue of $9.24 million during the quarter, compared to the consensus estimate of $7.33 million.

Upexi announced that its board has approved a stock repurchase plan on Thursday, November 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy up to 25.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in Upexi in the third quarter valued at approximately $26,000. North Star Investment Management Corp. purchased a new stake in shares of Upexi during the 2nd quarter valued at $45,000. Belpointe Asset Management LLC acquired a new stake in shares of Upexi in the 3rd quarter worth $58,000. Arkadios Wealth Advisors acquired a new stake in shares of Upexi in the 3rd quarter worth $58,000. Finally, Millington Financial Advisors LLC purchased a new position in Upexi during the 2nd quarter worth $60,000. Institutional investors own 5.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UPXI. Cantor Fitzgerald dropped their price objective on shares of Upexi from $16.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday. Alliance Global Partners initiated coverage on Upexi in a report on Monday, August 4th. They set a “buy” rating and a $15.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Upexi in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.50.

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Upexi Company Profile

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Upexi, Inc manufactures and sells various branded products in the health, wellness, pet, beauty, and other markets. The company was formerly known as Grove, Inc and changed its name to Upexi, Inc in August 2022. The company was incorporated in 2018 and is headquartered in Clearwater, Florida.

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