Quipt Home Medical Corp (NASDAQ:QIPT) price on Wednesday, May 21, fall -8.88% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.95.
A look at the stock’s price movement, the close in the last trading session was $2.14. Turning to its 52-week performance, $4.07 and $1.35 were the 52-week high and 52-week low respectively. Overall, QIPT moved -6.70% over the past month.
Quipt Home Medical Corp’s market cap currently stands at around $84.71 million, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 80.37M for the company’s revenue for the quarter, with a low and high estimate of 80.17M and 80.57M respectively. The average forecast suggests down to a -8.29% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 327.55M, representing a -6.42% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that QIPT is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend QIPT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
QIPT’s current price about -1.20% and -7.66% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.45, while 7-day volatility ratio is 11.07% and 7.23% in the 30-day chart. Further, Quipt Home Medical Corp (QIPT) has a beta value of 0.48, and an average true range (ATR) of 0.19. Analysts have given the company’s stock an average 52-week price target of $1.7, forecast between a low of $1.7 and high of $1.7. Looking at the price targets, the low is 12.82% off current price level while to achieve the yearly target high, price needs to move 12.82%. Nonetheless, investors will most likely welcome a 12.82% jump to $1.7 which is the analysts’ median price.
If we refocus on Quipt Home Medical Corp (NASDAQ:QIPT), historical trading data shows that trading volumes averaged 637.57K over the past 3 months. The company’s latest data on shares outstanding shows there are 43.51 million shares.
The 17.00% of Quipt Home Medical Corp’s shares are in the hands of company insiders while institutional holders own 60.48% of the company’s shares. Current price change has pushed the stock -36.07% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the QIPT stock continues to rise going into the next quarter.
