Quipt Home Medical Corp. (NASDAQ:QIPT) Sees Large Decrease in Short Interest

Quipt Home Medical Corp. (NASDAQ:QIPT) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 644,340 shares, a drop of 20.2% from the December 15th total of 807,802 shares. Based on an average daily trading volume, of 652,319 shares, the short-interest ratio is presently 1.0 days. Currently, 1.7% of the company’s stock are sold short. Currently, 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 652,319 shares, the short-interest ratio is presently 1.0 days.

Quipt Home Medical Trading Up 0.3%

NASDAQ:QIPT opened at $3.59 on Friday. The company has a market capitalization of $158.07 million, a P/E ratio of -14.36 and a beta of 0.55. The company has a current ratio of 1.05, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. Quipt Home Medical has a 12 month low of $1.35 and a 12 month high of $3.61. The firm has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $2.58.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings results on Monday, December 15th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.11). Quipt Home Medical had a negative return on equity of 10.13% and a negative net margin of 4.38%.The firm had revenue of $68.30 million for the quarter, compared to analyst estimates of $87.46 million. On average, equities research analysts anticipate that Quipt Home Medical will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in QIPT. Retirement Planning Co of New England Inc. acquired a new position in shares of Quipt Home Medical during the 3rd quarter worth about $26,000. Diversify Advisory Services LLC purchased a new stake in Quipt Home Medical during the 2nd quarter worth approximately $29,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Quipt Home Medical during the second quarter valued at approximately $31,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Quipt Home Medical during the second quarter valued at approximately $34,000. Finally, Crescent Sterling Ltd. purchased a new position in shares of Quipt Home Medical in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on QIPT shares. Stifel Canada lowered shares of Quipt Home Medical from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quipt Home Medical in a research report on Monday, December 29th. Benchmark reissued a “buy” rating on shares of Quipt Home Medical in a research report on Tuesday, December 16th. Finally, Canaccord Genuity Group set a $3.65 target price on Quipt Home Medical in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $3.83.

About Quipt Home Medical

Quipt Home Medical (NASDAQ: QIPT) is a U.S.-based provider of home medical equipment and related services, specializing in respiratory care and sleep therapy. The company offers a comprehensive range of durable medical equipment (DME) designed to support patients with chronic respiratory conditions, sleep apnea and other pulmonary disorders in the comfort of their own homes.

Key product offerings include continuous positive airway pressure (CPAP) and bilevel devices, oxygen concentrators, noninvasive ventilators, masks, tubing and disposables.