NextPlat (NASDAQ:NXPL) Trading Up 6.5% – Still a Buy?

NextPlat Corp. (NASDAQ:NXPL)’s stock price traded up 6.5% during mid-day trading on Thursday . The company traded as high as $8.37 and last traded at $7.69. 59,910 shares traded hands during trading, an increase of 205% from the average session volume of 19,660 shares. The stock had previously closed at $7.22.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of NextPlat from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, NextPlat currently has a consensus rating of “Sell”.

NextPlat Stock Performance

The stock’s 50-day simple moving average is $5.98 and its 200-day simple moving average is $5.92. The stock has a market cap of $17.85 million, a price-to-earnings ratio of -1.53 and a beta of 1.90. The company has a current ratio of 2.56, a quick ratio of 2.12 and a debt-to-equity ratio of 0.05.

NextPlat (NASDAQ:NXPL) last announced its earnings results on Thursday, May 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. NextPlat had a negative return on equity of 58.05% and a negative net margin of 23.14%.The business had revenue of $9.86 million for the quarter.

Institutional Trading of NextPlat

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) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 48,176 shares of the company’s stock, valued at approximately $40,000. Citadel Advisors LLC owned 0.19% of NextPlat at the end of the most recent quarter. 1.30% of the stock is currently owned by institutional investors and hedge funds.

About NextPlat

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.