NextPlat Corp (NASDAQ:NXPL) Sees Large Decrease in Short Interest

NextPlat Corp (NASDAQ:NXPL) was the target of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 115,500 shares, a drop of 13.7% from the January 31st total of 133,800 shares. Based on an average daily trading volume, of 379,600 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.8% of the shares of the company are sold short.

NextPlat Stock Performance

NASDAQ:NXPL traded up $0.01 during trading hours on Thursday, reaching $0.95. The stock had a trading volume of 18,806 shares, compared to its average volume of 422,263. NextPlat has a 12-month low of $0.71 and a 12-month high of $2.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.04 and a current ratio of 3.70. The stock has a 50 day simple moving average of $1.09 and a 200 day simple moving average of $1.13. The stock has a market cap of $24.64 million, a P/E ratio of -1.40 and a beta of 0.76.

Institutional Investors Weigh In On NextPlat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXPL. Renaissance Technologies LLC bought a new stake in shares of NextPlat in the fourth quarter valued at approximately $30,000. Geode Capital Management LLC grew its stake in NextPlat by 54.6% in the 4th quarter. Geode Capital Management LLC now owns 165,459 shares of the company’s stock valued at $179,000 after buying an additional 58,402 shares in the last quarter. Finally, Omnia Family Wealth LLC purchased a new position in NextPlat in the 3rd quarter valued at approximately $132,000. 1.30% of the stock is currently owned by institutional investors.

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.