NextPlat Corp. (NASDAQ:NXPL) Sees Significant Growth in Short Interest

NextPlat Corp. (NASDAQ:NXPL) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 518,283 shares, an increase of 227.4% from the February 12th total of 158,290 shares. Based on an average daily volume of 1,458,650 shares, the short-interest ratio is presently 0.4 days. Approximately 3.5% of the company’s shares are sold short. Approximately 3.5% of the company’s shares are sold short. Based on an average daily volume of 1,458,650 shares, the short-interest ratio is presently 0.4 days.

NextPlat Stock Performance

NXPL traded down $0.02 during midday trading on Wednesday, reaching $0.45. The company’s stock had a trading volume of 46,631,510 shares, compared to its average volume of 1,620,852. The company has a current ratio of 3.56, a quick ratio of 2.80 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $0.59 and a 200 day simple moving average of $0.68. The stock has a market cap of $12.24 million, a P/E ratio of -1.51 and a beta of 1.26. NextPlat has a twelve month low of $0.42 and a twelve month high of $1.11.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NextPlat stock. Simplicity Wealth LLC bought a new stake in NextPlat Corp. (NASDAQ:NXPL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 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 Securities and Exchange Commission (SEC). 1.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NextPlat in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

NextPlat Company Profile

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.