NextPlat Corp. (NASDAQ:NXPL) Short Interest Down 31.9% in July

NextPlat Corp. (NASDAQ:NXPL) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 5,209 shares, a drop of 31.9% from the June 30th total of 7,645 shares. Based on an average daily volume of 39,473 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.4% of the company’s shares are sold short.

NextPlat Trading Up 4.6%

NASDAQ NXPL opened at $6.17 on Friday. The stock has a market capitalization of $16.72 million, a P/E ratio of -1.43 and a beta of 1.87. The business has a 50 day simple moving average of $6.48 and a 200 day simple moving average of $5.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.12. NextPlat has a one year low of $3.38 and a one year high of $11.10.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in NextPlat stock. Citadel Advisors LLC bought a new position in shares of NextPlat Corp. (NASDAQ:NXPL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned approximately 0.19% of NextPlat as of its most recent SEC filing. 1.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.