Quipt Home Medical Corp. (NASDAQ: QIPT) stock jumped 0.87% on Friday to $5.81 against a previous-day closing price of $5.76. With 0.53 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.26 million shares. During the session, the Medical Devices company that operates in wider Healthcare sector, reached to the highest price of $5.88 whereas the lowest price it dropped to was $5.61. The 52-week range on QIPT shows that it touched its highest point at $7.26 and its lowest point at $3.89 during that stretch. Beta for the stock currently stands at 1.68.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of QIPT was up-trending over the past week, with a rise of 4.87%, but this was up by 4.87% over a month. Three-month performance surged to 7.59% while six-month performance fell -11.70%. The stock gained 27.69% in the past year, while it has gained 23.35% so far this year. A look at the trailing 12-month EPS for QIPT yields 0.02 with Next year EPS estimates of 0.06. For the next quarter, that number is 0.00. This implies an EPS growth rate of 165.70% for this year and 250.00% for next year.
Float and Shares Shorts:
At present, 40.58 million QIPT shares are outstanding with a float of 40.42 million shares on hand for trading. On Aug 30, 2023, short shares totaled 0.74 million, which was 1.75% higher than short shares on Jul 30, 2023. In addition to QIPT as the firm’s Quipt Home Medical Corp., TIPT serves as its Tiptree Inc.
Through their ownership of 34.84% of QIPT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of QIPT, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 1.81% stake in QIPT, the iShares Russell 2000 ETF is the largest stakeholder. A total of 760,747 shares are owned by the mutual fund manager. The MM Fund, which owns about 0.89% of QIPT stock, is the second-largest Mutual Fund holder. It holds 372,310 shares valued at 2.2 million. Fidelity Small Cap Index Fund holds 0.85% of the stake in QIPT, owning 356,165 shares worth 2.1 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, QIPT reported revenue of $36.69M and operating income of $4.17M. The EBITDA in the recently reported quarter was $9.71M and diluted EPS was $0.00.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QIPT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With QIPT analysts setting a high price target of $13.72 and a low target of $8.62, the average target price over the next 12 months is $10.60. Based on these targets, QIPT could surge 136.14% to reach the target high and rise by 48.36% to reach the target low. Reaching the average price target will result in a growth of 82.44% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded QIPT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 5 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 482,349 while 169,398 shares were sold.