Upexi (NASDAQ:UPXI) to Repurchase $50.00 million in Shares

Upexi (NASDAQ:UPXI - Get Free Report) announced that its board has authorized a stock repurchase program on Thursday, November 13th, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 25.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

UPXI has been the topic of several research analyst reports. Cantor Fitzgerald raised Upexi to a "strong-buy" rating in a research note on Wednesday, August 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Upexi in a report on Tuesday. Finally, Alliance Global Partners initiated coverage on shares of Upexi in a report on Monday, August 4th. They issued a "buy" rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Upexi currently has a consensus rating of "Moderate Buy" and an average price target of $15.50.

Get Our Latest Stock Report on UPXI

Upexi Stock Down 4.7%

Shares of NASDAQ:UPXI traded down $0.16 during trading on Thursday, hitting $3.22. The stock had a trading volume of 6,144,179 shares, compared to its average volume of 4,536,950. The company has a market capitalization of $189.63 million, a PE ratio of -0.57 and a beta of -0.56. The firm's fifty day moving average is $5.44 and its 200 day moving average is $7.17. Upexi has a 12 month low of $1.90 and a 12 month high of $22.57.

Upexi (NASDAQ:UPXI - Get Free Report) last issued its quarterly earnings results on Tuesday, November 11th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $9.24 million during the quarter, compared to analysts' expectations of $7.33 million. Upexi had a negative return on equity of 73.05% and a net margin of 264.25%.

About Upexi

Upexi, Inc manufactures and sells various branded products in the health, wellness, pet, beauty, and other markets. The company was formerly known as Grove, Inc and changed its name to Upexi, Inc in August 2022. The company was incorporated in 2018 and is headquartered in Clearwater, Florida.

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