Short Interest in Quipt Home Medical Corp. (NASDAQ:QIPT) Rises By 65.0%

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report) was the recipient of a large increase in short interest in 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. Currently, 7.5% of the company's shares 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 Down 2.7%

Shares of QIPT stock traded down $0.05 during mid-day trading on Wednesday, reaching $1.80. 568,622 shares of the company's stock traded hands, compared to its average volume of 379,158. Quipt Home Medical has a 12 month low of $1.35 and a 12 month high of $4.07. The company has a market cap of $78.19 million, a P/E ratio of -8.57 and a beta of 0.56. The company's 50-day moving average price is $1.97 and its 200-day moving average price is $2.44. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.76.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). Quipt Home Medical had a negative return on equity of 8.38% and a negative net margin of 3.66%. The business had revenue of $57.40 million during the quarter, compared to the consensus estimate of $88.29 million. On average, equities analysts expect that Quipt Home Medical will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Kanen Wealth Management LLC increased its position in shares of Quipt Home Medical by 108.4% during the 1st quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company's stock valued at $6,919,000 after purchasing an additional 1,544,529 shares during the last quarter. Wells Fargo & Company MN grew its stake in 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 purchasing an additional 5,625 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Quipt Home Medical during the 4th quarter worth $137,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Quipt Home Medical by 74.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 493,858 shares of the company's stock valued at $1,506,000 after acquiring an additional 210,153 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Quipt Home Medical by 2.8% during the 4th quarter. Northern Trust Corp now owns 257,402 shares of the company's stock worth $785,000 after acquiring an additional 7,095 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

About Quipt Home Medical

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.