Short Interest in Quipt Home Medical Corp. (NASDAQ:QIPT) Grows By 34.3%

Quipt Home Medical Corp. (NASDAQ:QIPT) was the target 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. Based on an average daily volume of 90,500 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the company’s shares are short sold.

Quipt Home Medical stock traded down $0.05 during midday trading on Tuesday, reaching $5.57. 1,160 shares of the company traded hands, compared to its average volume of 65,879. Quipt Home Medical has a 12 month low of $3.65 and a 12 month high of $8.40. The company has a quick ratio of 1.57, a current ratio of 1.91 and a debt-to-equity ratio of 0.32. The company’s 50 day simple moving average is $6.02.

Quipt Home Medical (NASDAQ:QIPT) last announced its earnings results on Sunday, August 22nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. Sell-side analysts expect that Quipt Home Medical will post -0.22 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of QIPT. CLARET ASSET MANAGEMENT Corp purchased a new stake in Quipt Home Medical during the second quarter valued at approximately $17,171,000. Kennedy Capital Management Inc. bought a new stake in shares of Quipt Home Medical during the 2nd quarter valued at $1,459,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of Quipt Home Medical in the 2nd quarter worth $549,000. Public Employees Retirement System of Ohio bought a new position in Quipt Home Medical in the 2nd quarter worth $273,000. Finally, Salem Investment Counselors Inc. purchased a new position in Quipt Home Medical during the second quarter valued at $219,000. 14.69% of the stock is currently owned by institutional investors.

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

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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