Upexi (NASDAQ:UPXI) Issues Earnings Results, Misses Expectations By $0.11 EPS

Upexi (NASDAQ:UPXI) announced its earnings results on Tuesday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11), Zacks reports. The business had revenue of $9.24 million for the quarter, compared to analyst estimates of $7.33 million. Upexi had a negative return on equity of 54.33% and a negative net margin of 86.54%.

Upexi Price Performance

Shares of UPXI traded up $0.17 during mid-day trading on Wednesday, hitting $3.38. 5,714,953 shares of the company’s stock were exchanged, compared to its average volume of 4,096,373. The company has a 50-day simple moving average of $5.57 and a 200 day simple moving average of $7.23. The company has a market cap of $199.05 million, a PE ratio of -0.60 and a beta of -0.56. Upexi has a 52 week low of $1.90 and a 52 week high of $22.57.

Institutional Trading of Upexi

A hedge fund recently bought a new stake in Upexi stock. Geode Capital Management LLC bought a new position in Upexi, Inc. (NASDAQ:UPXI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 335,953 shares of the company’s stock, valued at approximately $1,002,000. Geode Capital Management LLC owned about 0.38% of Upexi as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 5.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UPXI shares. Alliance Global Partners initiated coverage on Upexi in a research report on Monday, August 4th. They set a “buy” rating and a $15.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Upexi in a research report on Tuesday. Finally, Cantor Fitzgerald upgraded Upexi to a “strong-buy” rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Upexi Company Profile

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.