Key Points
- Director Gene Salkind purchased 50,000 Upexi shares on November 20 at $2.55 (total $127,500) after buying 100,000 shares on November 17, bringing his direct stake to 218,750 shares — a 29.63% increase from the latest transaction.
- Board-authorized buyback: Upexi's board approved a $50 million share repurchase plan on November 13, allowing the company to repurchase up to 25.1% of its outstanding stock, signaling management believes the stock may be undervalued.
- Upexi reported quarterly EPS of ($0.12), missing estimates by $0.11 while beating revenue expectations with $9.24 million versus $7.33 million expected; the stock recently traded around $2.52 with a market cap of about $151 million.
Upexi, Inc. (NASDAQ:UPXI - Get Free Report) Director Gene Salkind acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $2.55 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the director directly owned 218,750 shares of the company's stock, valued at $557,812.50. The trade was a 29.63% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.
Gene Salkind also recently made the following trade(s):
- On Monday, November 17th, Gene Salkind bought 100,000 shares of Upexi stock. The shares were bought at an average price of $2.65 per share, for a total transaction of $265,000.00.
Upexi Stock Performance
Shares of UPXI stock traded up $0.05 during trading hours on Friday, reaching $2.52. The company had a trading volume of 5,945,423 shares, compared to its average volume of 4,809,635. The business has a fifty day moving average price of $5.06 and a 200-day moving average price of $6.76. Upexi, Inc. has a one year low of $1.90 and a one year high of $22.57. The firm has a market cap of $151.00 million, a PE ratio of -0.60 and a beta of -0.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.39 and a current ratio of 3.41.
Upexi (NASDAQ:UPXI - Get Free Report) last issued its 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). The company had revenue of $9.24 million during the quarter, compared to analysts' expectations of $7.33 million. Upexi had a negative return on equity of 30.42% and a net margin of 264.25%.
Upexi announced that its board has initiated a share buyback plan on Thursday, November 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 25.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of Upexi during the third quarter valued at approximately $26,000. Belpointe Asset Management LLC purchased a new position in Upexi during the 3rd quarter valued at $58,000. Arkadios Wealth Advisors bought a new position in Upexi in the 3rd quarter valued at $58,000. GSA Capital Partners LLP purchased a new stake in Upexi in the third quarter worth $66,000. Finally, Bank of America Corp DE increased its stake in Upexi by 3,733.8% in the third quarter. Bank of America Corp DE now owns 13,725 shares of the company's stock worth $79,000 after purchasing an additional 13,367 shares during the period. 5.68% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
UPXI has been the topic of several recent research reports. Alliance Global Partners initiated 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. Cantor Fitzgerald dropped their price target on shares of Upexi from $16.00 to $6.00 and set an "overweight" rating for the company in a research report on Friday, November 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Upexi in a research report on Tuesday, November 11th. Finally, Wall Street Zen cut Upexi from a "hold" rating to a "sell" rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $10.50.
Read Our Latest Stock Report on Upexi
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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