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

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

Analyst Ratings Changes

Several analysts have issued reports on NXPL shares. Litchfield Hills Research assumed coverage on shares of NextPlat in a research report on Wednesday, June 24th. They set a “buy” rating and a $11.00 price target on the stock. Zacks Research raised shares of NextPlat to a “hold” rating in a research report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of NextPlat from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company 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 bought a new position in shares of NextPlat Corp. (NASDAQ:NXPL) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned 0.19% of NextPlat as of its most recent filing with the SEC. 1.30% of the stock is currently owned by institutional investors.

NextPlat Stock Performance

Shares of NXPL stock traded down $0.05 during trading on Friday, reaching $6.01. 4,895 shares of the company’s stock were exchanged, compared to its average volume of 75,592. NextPlat has a twelve month low of $3.38 and a twelve month high of $11.10. The firm’s fifty day moving average price is $6.53 and its 200-day moving average price is $5.98. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $16.30 million, a PE ratio of -1.38 and a beta of 1.87.

NextPlat (NASDAQ:NXPL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. NextPlat had a negative net margin of 23.14% and a negative return on equity of 58.05%. The business had revenue of $9.86 million for the quarter. As a group, sell-side analysts anticipate that NextPlat will post -0.55 EPS 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.