Short Interest in NextPlat Corp (NASDAQ:NXPL) Drops By 26.5%

NextPlat Corp (NASDAQ:NXPL) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 84,900 shares, a decrease of 26.5% from the February 13th total of 115,500 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 377,200 shares, the short-interest ratio is currently 0.2 days.

NextPlat Price Performance

Shares of NXPL traded down $0.01 during midday trading on Monday, hitting $0.99. 28,387 shares of the company traded hands, compared to its average volume of 349,326. The firm has a 50 day moving average of $1.07 and a 200-day moving average of $1.11. NextPlat has a 52 week low of $0.71 and a 52 week high of $2.68. The stock has a market cap of $25.70 million, a price-to-earnings ratio of -1.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.04 and a current ratio of 3.70.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NextPlat stock. Geode Capital Management LLC lifted its holdings in NextPlat Corp (NASDAQ:NXPL) by 54.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,459 shares of the company’s stock after acquiring an additional 58,402 shares during the period. Geode Capital Management LLC owned 0.64% of NextPlat worth $179,000 at the end of the most recent quarter. 1.30% of the stock is currently owned by institutional investors and hedge funds.

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.