Short Interest in Quipt Home Medical Corp. (NASDAQ:QIPT) Increases By 85.0%

Key Points

• Short interest in Quipt Home Medical Corp. has risen by 85.0%, increasing from 881,100 shares to 1,630,000 shares as of September 30th.
• The company's earnings report showed a loss of ($0.07) EPS, missing the consensus estimate of $0.03 by $0.10, with revenue of $58.30 million falling short of expectations.
• Analysts have a consensus rating of "Hold" for QIPT shares, with a price target of $3.15, amidst mixed ratings from various research firms.

Quipt Home Medical Corp. (NASDAQ:QIPT - Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 1,630,000 shares, an increase of 85.0% from the September 15th total of 881,100 shares. Based on an average trading volume of 444,100 shares, the short-interest ratio is currently 3.7 days. Currently, 4.6% of the shares of the stock are sold short. Currently, 4.6% of the shares of the stock are sold short. Based on an average trading volume of 444,100 shares, the short-interest ratio is currently 3.7 days.

Quipt Home Medical Stock Performance

Shares of NASDAQ QIPT traded up $0.11 during mid-day trading on Tuesday, reaching $2.56. 28,318 shares of the company's stock were exchanged, compared to its average volume of 533,721. Quipt Home Medical has a 52 week low of $1.35 and a 52 week high of $3.27. The firm has a 50-day moving average price of $2.52 and a two-hundred day moving average price of $2.17. The firm has a market capitalization of $111.00 million, a price-to-earnings ratio of -10.65 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.15 and a quick ratio of 0.75.

Quipt Home Medical (NASDAQ:QIPT - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). Quipt Home Medical had a negative return on equity of 9.78% and a negative net margin of 4.30%.The firm had revenue of $58.30 million during the quarter, compared to analysts' expectations of $80.37 million. Analysts predict that Quipt Home Medical will post -0.05 EPS for the current year.

Analyst Ratings Changes

QIPT has been the subject of a number of recent research reports. Wall Street Zen raised shares of Quipt Home Medical from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Canaccord Genuity Group increased their price objective on shares of Quipt Home Medical from $1.70 to $2.30 and gave the company a "hold" rating in a research report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Quipt Home Medical in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $3.15.

Hedge Funds Weigh In On Quipt Home Medical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversify Advisory Services LLC bought a new position in shares of Quipt Home Medical during the second quarter valued at approximately $29,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Quipt Home Medical during the second quarter valued at $31,000. Y Intercept Hong Kong Ltd bought a new position in shares of Quipt Home Medical in the second quarter worth about $34,000. XTX Topco Ltd bought a new stake in Quipt Home Medical during the 2nd quarter valued at approximately $70,000. Finally, Jane Street Group LLC bought a new stake in Quipt Home Medical in the 1st quarter worth approximately $124,000. 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.

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