Wellgistics Health, Inc. (NASDAQ:WGRX) Sees Significant Decrease in Short Interest

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

Wellgistics Health Price Performance

Shares of WGRX opened at $3.05 on Friday. The stock has a market cap of $7.66 million, a P/E ratio of -0.07 and a beta of -1.45. Wellgistics Health has a 1 year low of $2.81 and a 1 year high of $97.50. The stock’s 50-day moving average price is $4.71 and its two-hundred day moving average price is $11.45. The company has a current ratio of 0.09, a quick ratio of 0.03 and a debt-to-equity ratio of 1.86.

Hedge Funds Weigh In On Wellgistics Health

A number of hedge funds and other institutional investors have recently made changes to their positions in WGRX. XTX Topco Ltd boosted its position in shares of Wellgistics Health by 195.1% during the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock worth $42,000 after purchasing an additional 70,137 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Wellgistics Health by 593.8% in the 3rd quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock valued at $52,000 after buying an additional 50,000 shares in the last quarter. Geode Capital Management LLC raised its stake in Wellgistics Health by 81.0% during the 4th quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock worth $195,000 after buying an additional 218,170 shares during the period. Finally, Heights Capital Management Inc. acquired a new stake in Wellgistics Health during the 3rd quarter worth $2,588,000.

Analyst Ratings Changes

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

Wellgistics Health Company Profile

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.