Wall Street Zen Upgrades Quipt Home Medical (NASDAQ:QIPT) to Hold

Quipt Home Medical (NASDAQ:QIPT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

QIPT has been the subject of several other research reports. Canaccord Genuity Group restated a “hold” rating and set a $1.70 price target (down previously from $4.00) on shares of Quipt Home Medical in a research report on Tuesday, May 13th. Benchmark restated a “buy” rating and set a $4.00 price target (down previously from $6.00) on shares of Quipt Home Medical in a research report on Wednesday, May 14th.

Quipt Home Medical Stock Up 2.5%

QIPT opened at $2.04 on Friday. Quipt Home Medical has a twelve month low of $1.35 and a twelve month high of $3.27. The company has a quick ratio of 0.85, a current ratio of 1.15 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $2.02 and a 200 day moving average price of $2.19. The company has a market cap of $88.62 million, a PE ratio of -8.50 and a beta of 0.59.

Quipt Home Medical (NASDAQ:QIPT) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). Quipt Home Medical had a negative return on equity of 9.78% and a negative net margin of 4.30%. The company had revenue of $58.30 million for the quarter, compared to analyst estimates of $80.37 million. Sell-side analysts expect that Quipt Home Medical will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Quipt Home Medical

A number of hedge funds have recently bought and sold shares of the business. Jane Street Group LLC raised its holdings in Quipt Home Medical by 207.3% in the 2nd quarter. Jane Street Group LLC now owns 163,175 shares of the company’s stock valued at $293,000 after acquiring an additional 110,070 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Quipt Home Medical during the 2nd quarter worth approximately $29,000. Qube Research & Technologies Ltd acquired a new stake in shares of Quipt Home Medical during the 2nd quarter worth approximately $116,000. Pale Fire Capital SE increased its holdings in shares of Quipt Home Medical by 86.7% during the 2nd quarter. Pale Fire Capital SE now owns 460,303 shares of the company’s stock worth $824,000 after buying an additional 213,807 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Quipt Home Medical during the 2nd quarter worth approximately $162,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

Quipt Home Medical Company Profile

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.