UpHealth Inc (NYSE:UPH) Stock Rockets 45% In a Week: What’s The Buzz?

There has been no news about UpHealth Inc (NYSE:UPH) in recent day but that has not deterred investors from piling on to the stock in a big way nonetheless. In the past week, the UpHealth stock has been one of the more notable movers and has managed to clock gains of as much as 44%.

Market Stats

On Tuesday, UPH stock gained 4.60% to $2.50 with more than 3.29 million shares, compared to its average volume of 1.56 million shares. The stock has moved within a range of $2.2500 – 2.5400 after opening the trade at $2.54.

Recent Developments

In this situation, it might be a good idea for investors to perhaps take a look at an announcement made by the company last month with regards to its NUTRAscriptives line of products. The company announced at the time that it was looking to expand the line of clinical grade supplements under the above mentioned brand that are made available online and in retail outlets.

It goes without saying that the possibility of expanding the product line was a significant announcement from the company and may have led to considerable optimism among investors at the time. However, at the same time, it is hard to say if the latest rally in the stock is actually linked to that announcement or not. Hence, it could be a good move to wait for further news regarding UpHealth before making any move on the stock. 

Traders Corner

UPH stock is above below the 50-Day and 200-Day Moving averages of $2.88 and $7.19  respectively. However, the stock is trading above the 20-Day moving average of $2.11. The stock is down 45% in the past month.