Inspira Technologies OXY B.H.N. Ltd (NASDAQ:QTEX – Get Free Report) saw a significant drop in short interest in June. As of June 15th, there was short interest totaling 3,284,467 shares, a drop of 60.0% from the May 31st total of 8,218,482 shares. Based on an average daily trading volume, of 29,919,935 shares, the short-interest ratio is currently 0.1 days. Approximately 12.9% of the company’s stock are sold short.
Analysts Set New Price Targets
A number of analysts have issued reports on QTEX shares. Weiss Ratings initiated coverage on Inspira Technologies OXY B.H.N. in a report on Wednesday, May 27th. They set a “sell (e+)” rating for the company. Wall Street Zen upgraded Inspira Technologies OXY B.H.N. to a “hold” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on QTEX
Inspira Technologies OXY B.H.N. Stock Performance
Inspira Technologies OXY B.H.N. announced that its Board of Directors has authorized a share repurchase plan on Monday, June 22nd that authorizes the company to repurchase 2,000,000,000,000 shares. This repurchase authorization authorizes the company to purchase up to 5.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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.
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