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

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Quipt Home Medical

Several hedge funds and other institutional investors have recently bought and sold shares of QIPT. Kanen Wealth Management LLC boosted its holdings in shares of Quipt Home Medical by 108.4% in the first quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock valued at $6,919,000 after acquiring an additional 1,544,529 shares in the last quarter. Vanguard Group Inc. purchased a new stake in Quipt Home Medical in the 3rd quarter valued at approximately $4,539,000. Franklin Resources Inc. lifted its holdings in shares of Quipt Home Medical by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 895,398 shares of the company’s stock valued at $2,337,000 after buying an additional 71,274 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Quipt Home Medical by 19.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 752,743 shares of the company’s stock valued at $1,964,000 after buying an additional 121,631 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Quipt Home Medical by 4.7% in the third quarter. Russell Investments Group Ltd. now owns 594,590 shares of the company’s stock valued at $1,552,000 after buying an additional 26,501 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Quipt Home Medical Price Performance

Quipt Home Medical stock remained flat at $3.59 during trading on Tuesday. 510,965 shares of the company were exchanged, compared to its average volume of 635,223. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 1.05. Quipt Home Medical has a one year low of $1.35 and a one year high of $3.61. The stock has a market capitalization of $158.06 million, a PE ratio of -14.36 and a beta of 0.55. The firm has a 50-day moving average of $2.99 and a 200 day moving average of $2.60.

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

Quipt Home Medical Company Profile

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.