Wellgistics Health, Inc. (NASDAQ:MEDS) Sees Large Growth in Short Interest

Wellgistics Health, Inc. (NASDAQ:MEDS) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 430,628 shares, an increase of 147.5% from the August 31st total of 173,986 shares. Approximately 19.0% of the company’s shares are sold short. Based on an average trading volume of 6,603,130 shares, the short-interest ratio is presently 0.1 days.

Wellgistics Health Stock Performance

Shares of NASDAQ MEDS traded down $0.39 during mid-day trading on Friday, hitting $3.11. 408,549 shares of the stock traded hands, compared to its average volume of 14,568,824. The company has a market cap of $9.95 million, a price-to-earnings ratio of -0.07 and a beta of -1.77. The stock has a fifty day moving average price of $2.78 and a 200-day moving average price of $4.16. Wellgistics Health has a 52 week low of $0.82 and a 52 week high of $73.00.

Wellgistics Health (NASDAQ:MEDS) last posted its quarterly earnings data on Monday, August 17th. The company reported ($7.13) earnings per share (EPS) for the quarter. The business had revenue of $1.78 million during the quarter.

Wall Street Analyst Weigh In

Several brokerages have commented on MEDS. Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a report on Monday, September 21st. Wall Street Zen raised shares of Wellgistics Health from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

About Wellgistics Health

Wellgistics Health, Inc (NASDAQ:MEDS) is a healthcare technology and pharmaceutical distribution company focused on improving access to prescription medicines. The company provides infrastructure designed to connect healthcare providers, pharmacies, pharmaceutical manufacturers and patients within the prescription-drug supply chain.

Its business activities include pharmaceutical distribution and technology-enabled services intended to support medication ordering, fulfillment and delivery.