NextPlat Corp. (NASDAQ:NXPL) Short Interest Down 63.8% in June

NextPlat Corp. (NASDAQ:NXPL) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 11,956 shares, a decrease of 63.8% from the May 31st total of 33,021 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 31,212 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

A number of research firms recently commented on NXPL. Zacks Research raised NextPlat to a “hold” rating in a report on Thursday, June 25th. Weiss Ratings upgraded NextPlat from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Finally, Litchfield Hills Research started coverage on shares of NextPlat in a report on Wednesday, June 24th. They issued a “buy” rating and a $11.00 price target on the stock. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in NextPlat stock. Citadel Advisors LLC purchased a new stake in NextPlat Corp. (NASDAQ:NXPL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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. Hedge funds and other institutional investors own 1.30% of the company’s stock.

NextPlat Stock Performance

NASDAQ:NXPL traded up $0.26 during mid-day trading on Tuesday, hitting $6.75. The company’s stock had a trading volume of 26,400 shares, compared to its average volume of 79,530. NextPlat has a 1 year low of $3.38 and a 1 year high of $11.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.56 and a quick ratio of 2.12. The stock has a market cap of $18.28 million, a price-to-earnings ratio of -1.56 and a beta of 1.90. The business’s fifty day moving average is $6.41 and its two-hundred day moving average is $5.92.

NextPlat (NASDAQ:NXPL) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.42) earnings per share for the quarter. The company had revenue of $9.86 million for the quarter. NextPlat had a negative net margin of 23.14% and a negative return on equity of 58.05%. Analysts anticipate that NextPlat will post -0.55 EPS for the current fiscal year.

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.