Quipt Home Medical (NASDAQ:QIPT) Trading Down 2.8% - Here's What Happened

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report)'s stock price traded down 2.8% during trading on Monday . The stock traded as low as $1.72 and last traded at $1.73. 436,335 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 400,867 shares. The stock had previously closed at $1.78.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Canaccord Genuity Group reissued a "hold" rating and issued a $1.70 price objective (down previously from $4.00) on shares of Quipt Home Medical in a research note on Tuesday, May 13th. Benchmark reaffirmed a "buy" rating and issued a $4.00 price objective (down from $6.00) on shares of Quipt Home Medical in a research note on Wednesday, May 14th. Finally, 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.

Quipt Home Medical Price Performance

The stock has a market capitalization of $81.24 million, a P/E ratio of -8.90 and a beta of 0.56. The business's 50 day simple moving average is $1.88 and its two-hundred day simple moving average is $2.34. 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 announced its earnings results 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 net margin of 3.66% and a negative return on equity of 8.38%. The firm had revenue of $57.40 million during the quarter, compared to analysts' expectations of $88.29 million. As a group, sell-side analysts forecast that Quipt Home Medical Corp. will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quipt Home Medical

Several large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC purchased a new position in shares of Quipt Home Medical during the fourth quarter worth approximately $36,000. Wells Fargo & Company MN lifted its holdings 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 valued at $73,000 after acquiring an additional 5,625 shares during the period. TD Waterhouse Canada Inc. lifted 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 worth $76,000 after purchasing an additional 12,479 shares during the period. XTX Topco Ltd increased its holdings in Quipt Home Medical by 54.3% in the 4th quarter. XTX Topco Ltd now owns 28,452 shares of the company's stock worth $87,000 after acquiring an additional 10,015 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Quipt Home Medical in the 4th quarter worth approximately $113,000. Hedge funds and other 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.