QT Imaging (NASDAQ:QTI) Shares Up 10.3% – Still a Buy?

QT Imaging Holdings, Inc. (NASDAQ:QTI)’s share price traded up 10.3% during mid-day trading on Friday . The stock traded as high as $0.64 and last traded at $0.64. 68,611 shares changed hands during trading, a decline of 61% from the average session volume of 174,911 shares. The stock had previously closed at $0.58.

QT Imaging Trading Up 10.3 %

The company’s 50 day simple moving average is $0.61 and its 200-day simple moving average is $0.72.

QT Imaging (NASDAQ:QTI) last announced its earnings results on Thursday, August 8th. The company reported ($0.40) earnings per share (EPS) for the quarter. The company had revenue of $1.71 million for the quarter.

Institutional Trading of QT Imaging

A number of hedge funds have recently added to or reduced their stakes in QTI. Atlas Merchant Capital LLC acquired a new position in shares of QT Imaging during the 2nd quarter valued at about $33,000. Virtu Financial LLC acquired a new stake in shares of QT Imaging in the first quarter worth approximately $55,000. Oxford Financial Group LTD. LLC purchased a new stake in QT Imaging in the first quarter valued at approximately $65,000. Finally, Lynrock Lake LP acquired a new position in QT Imaging during the second quarter worth approximately $191,000. 24.19% of the stock is owned by institutional investors and hedge funds.

About QT Imaging

QT Imaging Holdings, Inc engages in the research, development, and commercialization of body imaging systems for detection, diagnosis, monitoring, and treatment of diseases. The company offers QT Ultrasound Breast Scanner, an ultrasonic imaging system that provides reflection-mode and transmission-mode images of a patient’s breast.