Short Interest in Quipt Home Medical Corp. (NASDAQ:QIPT) Declines By 34.1%

Quipt Home Medical Corp. (NASDAQ:QIPT) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 460,471 shares, a drop of 34.1% from the February 26th total of 698,684 shares. Based on an average trading volume of 539,710 shares, the short-interest ratio is currently 0.9 days. Approximately 1.2% of the shares of the stock are sold short.

Institutional Trading of Quipt Home Medical

A number of hedge funds and other institutional investors have recently modified their holdings of QIPT. Empowered Funds LLC boosted its holdings in Quipt Home Medical by 9.9% in the fourth quarter. Empowered Funds LLC now owns 84,015 shares of the company’s stock valued at $297,000 after purchasing an additional 7,563 shares during the last quarter. Quarry LP purchased a new position in shares of Quipt Home Medical during the 4th quarter valued at approximately $28,000. Crescent Sterling Ltd. acquired a new stake in shares of Quipt Home Medical during the fourth quarter worth approximately $35,000. Retirement Planning Co of New England Inc. bought a new stake in shares of Quipt Home Medical in the third quarter worth $26,000. Finally, Bank of America Corp DE raised its holdings in Quipt Home Medical by 23.2% in the third quarter. Bank of America Corp DE now owns 70,945 shares of the company’s stock valued at $185,000 after acquiring an additional 13,374 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Quipt Home Medical in a report on Monday, December 29th. Benchmark reiterated a “buy” rating on shares of Quipt Home Medical in a research report on Tuesday, December 16th. Canaccord Genuity Group set a $3.65 target price on Quipt Home Medical in a report on Wednesday, December 17th. Finally, Stifel Nicolaus cut Quipt Home Medical from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $3.83.

Quipt Home Medical Stock Performance

Shares of QIPT remained flat at $3.65 during mid-day trading on Friday. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $3.07. Quipt Home Medical has a 12 month low of $1.35 and a 12 month high of $3.65. The firm has a market capitalization of $162.30 million, a price-to-earnings ratio of -15.21 and a beta of 0.54.

Quipt Home Medical (NASDAQ:QIPT) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.08. Quipt Home Medical had a negative return on equity of 9.94% and a negative net margin of 4.05%.The firm had revenue of $82.24 million during the quarter, compared to analysts’ expectations of $104.35 million. As a group, sell-side analysts predict that Quipt Home Medical will post -0.05 EPS for the current fiscal year.

Quipt Home Medical Company Profile

Quipt Home Medical (NASDAQ: QIPT) is a U.S.-based provider of home medical equipment and related services, specializing in respiratory care and sleep therapy. The company offers a comprehensive range of durable medical equipment (DME) designed to support patients with chronic respiratory conditions, sleep apnea and other pulmonary disorders in the comfort of their own homes.

Key product offerings include continuous positive airway pressure (CPAP) and bilevel devices, oxygen concentrators, noninvasive ventilators, masks, tubing and disposables.