Quipt Home Medical Corp. (NASDAQ:QIPT) Short Interest Up 65.0% in May

Quipt Home Medical Corp. (NASDAQ:QIPT) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,690,000 shares, an increase of 65.0% from the May 15th total of 1,630,000 shares. Approximately 7.5% of the company’s stock are sold short. Based on an average trading volume of 884,300 shares, the short-interest ratio is currently 3.0 days.

Quipt Home Medical Stock Performance

NASDAQ:QIPT traded down $0.01 during mid-day trading on Monday, reaching $1.99. The company’s stock had a trading volume of 237,718 shares, compared to its average volume of 377,328. The firm’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $2.44. Quipt Home Medical has a 12-month low of $1.35 and a 12-month high of $4.07. The stock has a market cap of $86.45 million, a P/E ratio of -11.71 and a beta of 0.56. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.74.

Quipt Home Medical (NASDAQ:QIPT) last issued its earnings results on Monday, May 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.09). The company had revenue of $57.40 million during the quarter, compared to analysts’ expectations of $88.29 million. Quipt Home Medical had a negative return on equity of 6.70% and a negative net margin of 2.90%. On average, equities analysts forecast that Quipt Home Medical will post -0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on QIPT shares. Canaccord Genuity Group reissued a “hold” rating and set a $1.70 price objective (down from $4.00) on shares of Quipt Home Medical in a research report on Tuesday, May 13th. Benchmark reiterated a “buy” rating and set a $4.00 price target (down previously from $6.00) on shares of Quipt Home Medical in a report on Wednesday, May 14th. Finally, Wall Street Zen lowered shares of Quipt Home Medical from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Institutional Trading of Quipt Home Medical

Several large investors have recently modified their holdings of QIPT. ProShare Advisors LLC bought a new position in Quipt Home Medical in the fourth quarter valued at about $36,000. Wells Fargo & Company MN boosted its holdings in shares of Quipt Home Medical by 30.9% in the fourth quarter. Wells Fargo & Company MN now owns 23,851 shares of the company’s stock worth $73,000 after buying an additional 5,625 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in Quipt Home Medical by 83.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company’s stock valued at $76,000 after buying an additional 12,479 shares during the period. XTX Topco Ltd grew its position in Quipt Home Medical by 54.3% during the fourth quarter. XTX Topco Ltd now owns 28,452 shares of the company’s stock valued at $87,000 after buying an additional 10,015 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in Quipt Home Medical during the fourth quarter valued at approximately $104,000. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Company Profile

Quipt Home Medical Corp., through its subsidiaries, engages in the provision of durable and home medical equipment and supplies in the United States. The company offers nebulizers, oxygen concentrators, and CPAP and BiPAP units; traditional and non-traditional durable medical respiratory equipment and services; non-invasive ventilation equipment, supplies, and services; and engages in the rental of medical equipment.