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

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NextPlat stock. Citadel Advisors LLC purchased a new position in shares of NextPlat Corp. (NASDAQ:NXPL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned about 0.19% of NextPlat as of its most recent SEC filing. Hedge funds and other institutional investors own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NXPL. 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 target price for the company. Zacks Research upgraded NextPlat to a “hold” rating in a report on Thursday, June 25th. Finally, Weiss Ratings raised NextPlat from a “sell (e+)” rating to a “sell (d-)” rating in a research 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 issued a Sell rating to the stock. According to MarketBeat, NextPlat currently has an average rating of “Hold” and a consensus price target of $11.00.

NextPlat Stock Down 0.8%

NXPL stock traded down $0.05 during midday trading on Friday, hitting $6.01. The company’s stock had a trading volume of 4,895 shares, compared to its average volume of 75,592. The company’s fifty day moving average price is $6.53 and its 200 day moving average price is $5.98. 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 twelve month low of $3.38 and a twelve month high of $11.10. The stock has a market capitalization of $16.30 million, a P/E ratio of -1.38 and a beta of 1.87.

NextPlat (NASDAQ:NXPL) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.42) EPS for the quarter. The business had revenue of $9.86 million for the quarter. NextPlat had a negative return on equity of 58.05% and a negative net margin of 23.14%. As a group, equities research analysts predict that NextPlat will post -0.55 EPS for the current year.

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.