NextPlat Corp. (NASDAQ:NXPL) Short Interest Down 74.2% in March

NextPlat Corp. (NASDAQ:NXPL) was the target of a large drop in short interest in March. As of March 31st, there was short interest totaling 246,130 shares, a drop of 74.2% from the March 15th total of 955,043 shares. Based on an average daily volume of 346,789 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.5% of the shares of the stock are sold short.

NextPlat Trading Down 1.6%

NextPlat stock traded down $0.01 during trading on Friday, hitting $0.48. The company had a trading volume of 88,977 shares, compared to its average volume of 305,344. NextPlat has a 1-year low of $0.34 and a 1-year high of $1.11. The company has a current ratio of 2.65, a quick ratio of 2.27 and a debt-to-equity ratio of 0.05. The company’s 50 day simple moving average is $4.66 and its 200-day simple moving average is $6.23. The stock has a market cap of $13.05 million, a price-to-earnings ratio of -1.10 and a beta of 1.38.

Shares of NextPlat are going to reverse split before the market opens on Monday, April 13th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, April 12th.

NextPlat (NASDAQ:NXPL) last posted its earnings results on Tuesday, March 31st. The company reported ($0.24) earnings per share for the quarter. NextPlat had a negative net margin of 21.56% and a negative return on equity of 53.22%. The company had revenue of $12.81 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of NextPlat in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NextPlat presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On NextPlat

An institutional investor recently bought a new position in NextPlat stock. Citadel Advisors LLC purchased a new stake in NextPlat Corp. (NASDAQ:NXPL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned 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.

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.