Inspira Technologies OXY B.H.N. (NASDAQ:QTEX) to Repurchase 2,000,000,000,000 Outstanding Stock

Inspira Technologies OXY B.H.N. (NASDAQ:QTEX) announced that its board has initiated a stock repurchase program on Monday, June 22nd, RTT News reports. The company plans to buyback 2,000,000,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Inspira Technologies OXY B.H.N. Price Performance

Shares of QTEX stock remained flat at $2.01 on Monday. 12,783,453 shares of the stock were exchanged, compared to its average volume of 45,882,472. Inspira Technologies OXY B.H.N. has a 52-week low of $0.28 and a 52-week high of $3.85. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.56 and a quick ratio of 1.30.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings assumed coverage on shares of Inspira Technologies OXY B.H.N. in a research report on Wednesday, May 27th. They set a “sell (e+)” rating for the company. Wall Street Zen upgraded shares of Inspira Technologies OXY B.H.N. to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Inspira Technologies OXY B.H.N. has an average rating of “Sell”.

Inspira Technologies OXY B.H.N. Company Profile

Inspira Technologies Oxy B.H.N. Ltd., a specialty medical device company, engages in the research, development, manufacture, and marketing of respiratory support technology to provide an alternative to invasive mechanical ventilation (MV) for the treatment of respiratory failure. Its lead product is the augmented respiration technology system (ART), a respiratory support system comprising minimally invasive, portable dual lumen cannula, which is inserted into the jugular vein and utilizes extra-corporeal direct blood oxygenation to elevate and stabilize declining oxygen saturation levels.