Inspira Technologies OXY B.H.N. Ltd (NASDAQ:QTEX) Short Interest Down 60.0% in June

Inspira Technologies OXY B.H.N. Ltd (NASDAQ:QTEX) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 3,284,467 shares, a drop of 60.0% from the May 31st total of 8,218,482 shares. Currently, 12.9% of the shares of the company are sold short. Based on an average daily trading volume, of 29,919,935 shares, the short-interest ratio is currently 0.1 days.

Inspira Technologies OXY B.H.N. Trading Down 4.7%

NASDAQ:QTEX traded down $0.07 during midday trading on Monday, hitting $1.53. The company’s stock had a trading volume of 1,824,134 shares, compared to its average volume of 14,947,275. Inspira Technologies OXY B.H.N. has a fifty-two week low of $0.28 and a fifty-two week high of $3.85. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 0.08.

Inspira Technologies OXY B.H.N. announced that its board has approved a stock repurchase plan on Monday, June 22nd that allows the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization allows the company to purchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen raised Inspira Technologies OXY B.H.N. to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings began coverage on Inspira Technologies OXY B.H.N. in a research report on Wednesday, May 27th. They set a “sell (e+)” rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Inspira Technologies OXY B.H.N. currently has an average rating of “Sell”.

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.