NextPlat (NASDAQ:NXPL) Releases Earnings Results, Beats Expectations By $0.16 EPS

NextPlat (NASDAQ:NXPL) announced its quarterly earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.16, Zacks reports. NextPlat had a negative return on equity of 58.05% and a negative net margin of 23.14%.

NextPlat Stock Up 15.8%

Shares of NASDAQ NXPL traded up $1.06 during mid-day trading on Thursday, reaching $7.77. 92,972 shares of the company were exchanged, compared to its average volume of 71,517. NextPlat has a 1 year low of $3.38 and a 1 year high of $11.10. The firm has a 50-day moving average of $6.37 and a 200 day moving average of $5.95. The stock has a market cap of $21.04 million, a price-to-earnings ratio of -1.84 and a beta of 1.83. The company has a quick ratio of 2.12, a current ratio of 2.56 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

A number of brokerages have weighed in on NXPL. Zacks Research raised NextPlat to a “hold” rating in a research report on Thursday, June 25th. Weiss Ratings restated a “sell (d-)” rating on shares of NextPlat in a report on Friday, August 7th. Finally, Litchfield Hills Research initiated coverage on shares of NextPlat in a report on Wednesday, June 24th. They set a “buy” rating and a $11.00 target price on the stock. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NextPlat presently has an average rating of “Hold” and an average price target of $11.00.

Institutional Trading of NextPlat

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