Quipt Home Medical Corp. (NASDAQ:QIPT) Short Interest Update

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Quipt Home Medical

A number of institutional investors have recently added to or reduced their stakes in QIPT. ProShare Advisors LLC acquired a new position in Quipt Home Medical during the 4th quarter worth about $36,000. Wells Fargo & Company MN raised its holdings in shares of Quipt Home Medical by 30.9% during the fourth quarter. Wells Fargo & Company MN now owns 23,851 shares of the company's stock worth $73,000 after acquiring an additional 5,625 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Quipt Home Medical by 83.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company's stock valued at $76,000 after purchasing an additional 12,479 shares during the period. XTX Topco Ltd raised its stake in shares of Quipt Home Medical by 54.3% in the 4th quarter. XTX Topco Ltd now owns 28,452 shares of the company's stock valued at $87,000 after purchasing an additional 10,015 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Quipt Home Medical in the 4th quarter valued at approximately $104,000. 42.85% of the stock is owned by institutional investors and hedge funds.

Quipt Home Medical Stock Performance

QIPT traded down $0.02 during midday trading on Monday, reaching $1.98. The company's stock had a trading volume of 100,558 shares, compared to its average volume of 376,797. The stock has a market cap of $86.02 million, a P/E ratio of -11.68 and a beta of 0.56. The company has a fifty day simple moving average of $1.97 and a 200 day simple moving average of $2.44. 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 has a twelve month low of $1.35 and a twelve month high of $4.07.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last announced its quarterly earnings data 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). Quipt Home Medical had a negative return on equity of 6.70% and a negative net margin of 2.90%. The company had revenue of $57.40 million during the quarter, compared to analyst estimates of $88.29 million. Research analysts expect that Quipt Home Medical will post -0.05 earnings per share for the current year.

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.