Inspira Technologies OXY B.H.N. Ltd (NASDAQ:QTEX) Short Interest Down 60.0% in June

Inspira Technologies OXY B.H.N. Ltd (NASDAQ:QTEX) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 3,284,467 shares, a decrease of 60.0% from the May 31st total of 8,218,482 shares. Based on an average daily volume of 29,919,935 shares, the days-to-cover ratio is currently 0.1 days. Approximately 12.9% of the shares of the company are short sold.

Inspira Technologies OXY B.H.N. Price Performance

Shares of QTEX traded down $0.07 during trading hours on Monday, hitting $1.53. The stock had a trading volume of 1,824,134 shares, compared to its average volume of 14,947,275. The company has a current ratio of 1.56, a quick ratio of 1.30 and a debt-to-equity ratio of 0.08. Inspira Technologies OXY B.H.N. has a fifty-two week low of $0.28 and a fifty-two week high of $3.85.

Inspira Technologies OXY B.H.N. announced that its board has approved a stock buyback plan on Monday, June 22nd that permits the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization permits the company to buy up to 5.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Inspira Technologies OXY B.H.N. to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings assumed coverage on Inspira Technologies OXY B.H.N. in a research note on Wednesday, May 27th. They issued a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

About Inspira Technologies OXY B.H.N.

Inspira Technologies Oxy B.H.N. Ltd., a specialty medical device company, engages in the research, development, manufacture, and marketing of respiratory support technology to provide an alternative to invasive mechanical ventilation (MV) for the treatment of respiratory failure. Its lead product is the augmented respiration technology system (ART), a respiratory support system comprising minimally invasive, portable dual lumen cannula, which is inserted into the jugular vein and utilizes extra-corporeal direct blood oxygenation to elevate and stabilize declining oxygen saturation levels.