Inspira Technologies OXY B.H.N. (NASDAQ:QTEX) Trading 12.2% Higher – Here’s Why

Inspira Technologies OXY B.H.N. Ltd (NASDAQ:QTEX) shares rose 12.2% during mid-day trading on Monday . The company traded as high as $1.02 and last traded at $1.01. Approximately 2,464,656 shares traded hands during trading, a decline of 26% from the average daily volume of 3,326,312 shares. The stock had previously closed at $0.90.

Analyst Upgrades and Downgrades

QTEX has been the topic of several research analyst reports. Weiss Ratings started coverage on Inspira Technologies OXY B.H.N. in a research report on Wednesday, May 27th. They issued a “sell (e+)” rating on the stock. Wall Street Zen upgraded Inspira Technologies OXY B.H.N. to a “hold” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Inspira Technologies OXY B.H.N. Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.30 and a current ratio of 1.56. The business’s 50-day moving average price is $1.57.

Inspira Technologies OXY B.H.N. declared that its Board of Directors has approved a share buyback program on Monday, June 22nd that authorizes the company 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 usually an indication that the company’s board believes its stock is undervalued.

About Inspira Technologies OXY B.H.N.

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.