Short Interest in NextPlat Corp. (NASDAQ:NXPL) Declines By 38.7%

NextPlat Corp. (NASDAQ:NXPL) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 116,400 shares, a drop of 38.7% from the September 30th total of 189,800 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 170,400 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 170,400 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NextPlat stock. Simplicity Wealth LLC acquired a new stake in shares of NextPlat Corp. (NASDAQ:NXPL) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 600,000 shares of the company’s stock, valued at approximately $497,000. Simplicity Wealth LLC owned about 2.31% of NextPlat as of its most recent filing with the SEC. 1.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NextPlat in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

NextPlat Price Performance

NASDAQ:NXPL traded down $0.02 during trading hours on Monday, reaching $0.88. The stock had a trading volume of 514,202 shares, compared to its average volume of 1,635,191. The company has a 50 day moving average price of $0.79 and a two-hundred day moving average price of $0.72. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.49 and a current ratio of 4.33. NextPlat has a 52 week low of $0.43 and a 52 week high of $2.30. The stock has a market capitalization of $22.96 million, a PE ratio of -2.01 and a beta of 1.11.

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.