Quipt Home Medical Target of Unusually High Options Trading (NASDAQ:QIPT)

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report) saw some unusual options trading activity on Monday. Investors purchased 2,462 call options on the stock. This represents an increase of 441% compared to the typical volume of 455 call options.

Hedge Funds Weigh In On Quipt Home Medical

Several institutional investors have recently bought and sold shares of QIPT. ProShare Advisors LLC purchased a new stake in shares of Quipt Home Medical in the fourth quarter worth about $36,000. Wells Fargo & Company MN raised its position in Quipt Home Medical by 30.9% in the 4th 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 during the period. TD Waterhouse Canada Inc. raised its holdings in shares of Quipt Home Medical by 83.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 27,435 shares of the company's stock worth $76,000 after buying an additional 12,479 shares during the period. XTX Topco Ltd increased its stake in Quipt Home Medical by 54.3% in the fourth quarter. XTX Topco Ltd now owns 28,452 shares of the company's stock worth $87,000 after purchasing an additional 10,015 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Quipt Home Medical during the 4th quarter valued at about $104,000. 42.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Quipt Home Medical Price Performance

NASDAQ:QIPT traded up $0.19 during trading hours on Monday, hitting $2.19. 578,615 shares of the stock traded hands, compared to its average volume of 583,538. The stock has a 50 day moving average price of $1.97 and a 200 day moving average price of $2.46. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.74. The company has a market cap of $95.06 million, a price-to-earnings ratio of -12.85 and a beta of 0.56. Quipt Home Medical has a 1 year low of $1.35 and a 1 year high of $4.07.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.09). The business 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%. Sell-side analysts forecast that Quipt Home Medical will post -0.05 EPS for the current fiscal 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.

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