Quipt Home Medical Sees Unusually High Options Volume (NASDAQ:QIPT)

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report) was the recipient of some unusual options trading on Monday. Traders acquired 2,462 call options on the company. This represents an increase of 441% compared to the average daily volume of 455 call options.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Kanen Wealth Management LLC lifted its stake in Quipt Home Medical by 108.4% in the first 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. Pale Fire Capital SE bought a new stake in shares of Quipt Home Medical during the 1st quarter valued at $574,000. Royce & Associates LP increased its position in shares of Quipt Home Medical by 12.1% during the fourth quarter. Royce & Associates LP now owns 1,982,089 shares of the company's stock valued at $6,045,000 after buying an additional 213,300 shares during the period. Arrowstreet Capital Limited Partnership lifted 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 worth $1,506,000 after buying an additional 210,153 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Quipt Home Medical in the first quarter valued at approximately $452,000. 42.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

QIPT has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a "hold" rating and set 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 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. Finally, Wall Street Zen downgraded Quipt Home Medical from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Quipt Home Medical Price Performance

QIPT stock traded down $0.07 during midday trading on Thursday, reaching $2.05. The company had a trading volume of 167,573 shares, compared to its average volume of 376,716. Quipt Home Medical has a 1-year low of $1.35 and a 1-year high of $4.07. The stock has a 50 day moving average price of $1.97 and a 200-day moving average price of $2.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 0.87. The company has a market capitalization of $89.19 million, a price-to-earnings ratio of -12.06 and a beta of 0.56.

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

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.