Wellgistics Health, Inc. (NASDAQ:WGRX) Sees Large Decline in Short Interest

Wellgistics Health, Inc. (NASDAQ:WGRX) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 101,300 shares, a decrease of 77.2% from the May 31st total of 444,588 shares. Currently, 5.5% of the company’s stock are sold short. Based on an average daily trading volume, of 71,464 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analyst Weigh In

WGRX has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Wellgistics Health in a research report on Wednesday. Wall Street Zen upgraded shares of Wellgistics Health to a “sell” rating in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Wellgistics Health presently has an average rating of “Sell”.

Institutional Trading of Wellgistics Health

Several hedge funds have recently modified their holdings of WGRX. Heights Capital Management Inc. bought a new stake in Wellgistics Health during the 3rd quarter worth about $2,588,000. Geode Capital Management LLC increased its position in Wellgistics Health by 81.0% in the 4th quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock valued at $195,000 after acquiring an additional 218,170 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Wellgistics Health by 195.1% in the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock worth $42,000 after acquiring an additional 70,137 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of Wellgistics Health by 593.8% in the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after acquiring an additional 50,000 shares during the last quarter.

Wellgistics Health Trading Up 6.6%

Shares of WGRX stock opened at $3.05 on Friday. The firm has a fifty day moving average of $4.71 and a 200-day moving average of $11.45. The stock has a market cap of $7.66 million, a price-to-earnings ratio of -0.07 and a beta of -1.45. Wellgistics Health has a 52-week low of $2.81 and a 52-week high of $97.50. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.03 and a current ratio of 0.09.

About Wellgistics Health

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.