Short Interest in Wellgistics Health, Inc. (NASDAQ:WGRX) Rises By 281.2%

Wellgistics Health, Inc. (NASDAQ:WGRX) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 10,201,616 shares, an increase of 281.2% from the April 30th total of 2,676,448 shares. Based on an average trading volume of 20,031,520 shares, the short-interest ratio is currently 0.5 days. Approximately 11.1% of the company’s stock are sold short.

Wellgistics Health Price Performance

Shares of WGRX traded down $0.06 during mid-day trading on Friday, reaching $3.66. The stock had a trading volume of 128,068 shares, compared to its average volume of 472,142. The business has a fifty day moving average of $5.66 and a 200 day moving average of $15.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.03 and a current ratio of 0.09. The firm has a market cap of $9.18 million, a price-to-earnings ratio of -0.08 and a beta of -1.17. Wellgistics Health has a 12 month low of $3.04 and a 12 month high of $128.00.

Wellgistics Health (NASDAQ:WGRX) last released its earnings results on Tuesday, May 19th. The company reported ($3.50) earnings per share (EPS) for the quarter. Wellgistics Health had a negative return on equity of 1,617.25% and a negative net margin of 545.69%.The business had revenue of $1.56 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wellgistics Health presently has a consensus rating of “Sell”.

Institutional Trading of Wellgistics Health

A number of large investors have recently made changes to their positions in the business. Heights Capital Management Inc. bought a new position in shares of Wellgistics Health during the 3rd quarter valued at approximately $2,588,000. Geode Capital Management LLC lifted its position in Wellgistics Health by 81.0% in the fourth quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock worth $195,000 after buying an additional 218,170 shares during the last quarter. XTX Topco Ltd boosted its stake in Wellgistics Health by 195.1% during the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock worth $42,000 after buying an additional 70,137 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in Wellgistics Health by 593.8% during the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after buying an additional 50,000 shares during the period.

Wellgistics Health Company Profile

Founded in 2022, Wellgistics Health is a holding company for various existing and planned strategic businesses centered around pharmaceuticals and healthcare services. As a micro health ecosystem, our portfolio of companies consists of a pharmacy, wholesale operations, and a technology division with a novel platform for hub and clinical services. We are focused on improving the lives of patients while delivering unique solutions for pharmacies, providers, pharmaceutical manufacturers, and payors.