Quipt Home Medical Corp. (NASDAQ:QIPT) Sees Significant Increase in Short Interest

Quipt Home Medical Corp. (NASDAQ:QIPT) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 75,200 shares, a growth of 34.3% from the August 15th total of 56,000 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 90,500 shares, the days-to-cover ratio is presently 0.8 days.

A number of analysts have recently commented on the company. Raymond James reaffirmed an “outperform” rating and issued a $9.00 price target on shares of Quipt Home Medical in a research note on Wednesday, August 25th. Beacon Securities reiterated a “buy” rating on shares of Quipt Home Medical in a research report on Tuesday, June 1st. Leede Jones Gab reaffirmed a “buy” rating on shares of Quipt Home Medical in a research report on Wednesday, June 2nd. Finally, Colliers Securities reaffirmed a “buy” rating on shares of Quipt Home Medical in a research report on Wednesday, June 2nd.

A number of large investors have recently added to or reduced their stakes in QIPT. CLARET ASSET MANAGEMENT Corp acquired a new stake in Quipt Home Medical in the second quarter valued at about $17,171,000. Kennedy Capital Management Inc. acquired a new stake in shares of Quipt Home Medical during the second quarter valued at about $1,459,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of Quipt Home Medical during the second quarter valued at about $549,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Quipt Home Medical during the second quarter valued at about $273,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Quipt Home Medical during the second quarter valued at about $219,000. 14.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ QIPT traded down $0.16 during mid-day trading on Monday, reaching $5.62. The company had a trading volume of 90,690 shares, compared to its average volume of 65,879. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.57 and a current ratio of 1.91. Quipt Home Medical has a one year low of $3.65 and a one year high of $8.40. The company has a 50-day moving average price of $6.03.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings results on Sunday, August 22nd. The company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.16. Equities research analysts forecast that Quipt Home Medical will post -0.22 earnings per share for the current year.

About Quipt Home Medical

Quipt Home Medical Corp. provides in-home monitoring equipment, supplies, and services for patients in the United States. It offers daily and ambulatory aides; power mobility equipment; BiPAP and CPAP machines, oxygen concentrators, and ventilators; oxygen therapy; sleep apnea and PAP treatment equipment; disease management services; and home ventilator equipment, as well as rents respiratory equipment.

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