Key Points
- Gene Salkind, a Upexi director, bought 100,000 shares on Nov. 17 at an average price of $2.65 for $265,000, increasing his direct stake to 569,470 shares (a 21.3% rise), according to an SEC Form 4 filing.
- The board authorized a $50 million share buyback program allowing repurchase of up to 25.1% of outstanding shares, a move that typically signals management views the stock as undervalued.
- Upexi missed quarterly EPS estimates (loss of $0.12 vs. -$0.01 expected) but beat revenue estimates ($9.24M vs. $7.33M), while analysts remain mixed with a consensus "Hold" rating and a $10.50 target.
Upexi, Inc. (NASDAQ:UPXI - Get Free Report) Director Gene Salkind acquired 100,000 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average price of $2.65 per share, for a total transaction of $265,000.00. Following the purchase, the director directly owned 569,470 shares of the company's stock, valued at approximately $1,509,095.50. This trade represents a 21.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Upexi Stock Performance
UPXI opened at $2.91 on Wednesday. The company has a market capitalization of $174.37 million, a price-to-earnings ratio of -0.51 and a beta of -0.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.41 and a quick ratio of 3.39. Upexi, Inc. has a 1-year low of $1.90 and a 1-year high of $22.57. The business has a 50 day moving average price of $5.27 and a two-hundred day moving average price of $6.89.
Upexi (NASDAQ:UPXI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.12) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $7.33 million.
Upexi declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 25.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Upexi
A number of hedge funds and other institutional investors have recently modified their holdings of UPXI. Ameritas Advisory Services LLC purchased a new position in Upexi in the 3rd quarter worth about $26,000. Belpointe Asset Management LLC purchased a new stake in Upexi during the third quarter valued at about $58,000. Arkadios Wealth Advisors acquired a new position in shares of Upexi in the third quarter worth about $58,000. GSA Capital Partners LLP purchased a new position in shares of Upexi in the third quarter worth approximately $66,000. Finally, Bank of America Corp DE raised its holdings in shares of Upexi by 3,733.8% during the third quarter. Bank of America Corp DE now owns 13,725 shares of the company's stock valued at $79,000 after acquiring an additional 13,367 shares during the period. Institutional investors and hedge funds own 5.68% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Upexi in a research report on Tuesday, November 11th. Alliance Global Partners assumed coverage on shares of Upexi in a research note on Monday, August 4th. They issued a "buy" rating and a $15.00 price objective on the stock. Finally, Cantor Fitzgerald cut their target price on shares of Upexi from $16.00 to $6.00 and set an "overweight" rating for the company in a research note on Friday, November 14th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Upexi currently has an average rating of "Hold" and a consensus target price of $10.50.
View Our Latest Stock Analysis on UPXI
Upexi Company Profile
(
Get Free Report)
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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