Quipt Home Medical Target of Unusually Large Options Trading (NASDAQ:QIPT)

Quipt Home Medical Corp. (NASDAQ:QIPT) was the target of unusually large options trading on Monday. Stock traders acquired 2,462 call options on the stock. This is an increase of 441% compared to the average daily volume of 455 call options.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Canaccord Genuity Group reissued a “hold” rating and set a $1.70 price target (down from $4.00) on shares of Quipt Home Medical in a report on Tuesday, May 13th. Benchmark reissued a “buy” rating and set a $4.00 price target (down from $6.00) on shares of Quipt Home Medical in a report on Wednesday, May 14th. Finally, Wall Street Zen cut Quipt Home Medical from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Institutional Investors Weigh In On Quipt Home Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kanen Wealth Management LLC grew its position in shares of Quipt Home Medical by 108.4% in the 1st quarter. Kanen Wealth Management LLC now owns 2,969,541 shares of the company’s stock valued at $6,919,000 after buying an additional 1,544,529 shares during the last quarter. Royce & Associates LP grew its position in shares of Quipt Home Medical by 12.1% in the 4th quarter. Royce & Associates LP now owns 1,982,089 shares of the company’s stock valued at $6,045,000 after buying an additional 213,300 shares during the last quarter. First Manhattan CO. LLC. grew its position in shares of Quipt Home Medical by 3.1% in the 4th quarter. First Manhattan CO. LLC. now owns 1,650,000 shares of the company’s stock valued at $5,032,000 after buying an additional 50,000 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Quipt Home Medical by 6.5% in the 1st quarter. Russell Investments Group Ltd. now owns 969,822 shares of the company’s stock valued at $2,260,000 after buying an additional 59,204 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Quipt Home Medical by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 512,304 shares of the company’s stock valued at $1,563,000 after buying an additional 4,242 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

Quipt Home Medical Price Performance

Shares of NASDAQ QIPT opened at $2.07 on Wednesday. The stock has a market capitalization of $90.06 million, a PE ratio of -12.18 and a beta of 0.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 0.87. The business has a fifty day moving average price of $1.97 and a two-hundred day moving average price of $2.45. Quipt Home Medical has a fifty-two week low of $1.35 and a fifty-two week high of $4.07.

Quipt Home Medical (NASDAQ:QIPT) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). Quipt Home Medical had a negative return on equity of 6.70% and a negative net margin of 2.90%. The business had revenue of $57.40 million for the quarter, compared to analyst estimates of $88.29 million. As a group, equities analysts predict that Quipt Home Medical will post -0.05 earnings per share for the current fiscal 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.