Quipt Home Medical Corp. (NASDAQ:QIPT) Sees Large Growth in Short Interest

Quipt Home Medical Corp. (NASDAQ:QIPT) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 1,050,000 shares, a growth of 19.3% from the November 30th total of 880,100 shares. Based on an average daily trading volume, of 167,800 shares, the days-to-cover ratio is currently 6.3 days. Approximately 2.7% of the company’s stock are short sold.

Insider Activity at Quipt Home Medical

In other Quipt Home Medical news, VP Patrick Dennis Gamble purchased 17,000 shares of Quipt Home Medical stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average price of $2.45 per share, for a total transaction of $41,650.00. Following the completion of the acquisition, the vice president now owns 40,057 shares of the company’s stock, valued at approximately $98,139.65. This trade represents a 73.73 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in QIPT. JPMorgan Chase & Co. grew its position in shares of Quipt Home Medical by 68.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 30,403 shares of the company’s stock worth $89,000 after purchasing an additional 12,383 shares in the last quarter. Franklin Resources Inc. grew its position in Quipt Home Medical by 8.7% during the third quarter. Franklin Resources Inc. now owns 740,785 shares of the company’s stock worth $2,163,000 after buying an additional 59,441 shares in the last quarter. Barclays PLC increased its stake in Quipt Home Medical by 79.2% during the 3rd quarter. Barclays PLC now owns 87,425 shares of the company’s stock worth $256,000 after acquiring an additional 38,635 shares during the period. Forager Capital Management LLC raised its holdings in Quipt Home Medical by 77.7% in the 3rd quarter. Forager Capital Management LLC now owns 4,192,562 shares of the company’s stock valued at $12,200,000 after acquiring an additional 1,833,590 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Quipt Home Medical during the 3rd quarter valued at $54,000. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Stock Performance

Shares of QIPT stock traded up $0.25 during midday trading on Tuesday, hitting $3.05. 543,839 shares of the company were exchanged, compared to its average volume of 196,083. Quipt Home Medical has a 52 week low of $2.30 and a 52 week high of $5.26. The firm has a market capitalization of $131.43 million, a P/E ratio of -27.73 and a beta of 0.62. The firm’s 50 day moving average price is $2.63 and its two-hundred day moving average price is $2.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 1.11.

Quipt Home Medical (NASDAQ:QIPT) last issued its quarterly earnings data on Monday, December 16th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.08). Quipt Home Medical had a negative return on equity of 4.51% and a negative net margin of 1.95%. As a group, equities research analysts anticipate that Quipt Home Medical will post -0.1 earnings per share for the current year.

About Quipt Home Medical

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.