Quarterhill (TSE:QTRH) Shares Down 0.4% – Here’s What Happened

Quarterhill Inc. (TSE:QTRH)’s share price dropped 0.4% during mid-day trading on Wednesday. The stock traded as low as C$2.75 and last traded at C$2.78. 94,607 shares traded hands during trading, a decline of 57% from the average daily volume of 219,061 shares. The stock had previously closed at C$2.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Canadian Imperial Bank of Commerce lowered their target price on Quarterhill from C$4.50 to C$4.00 in a research note on Wednesday, September 30th. ATB Cormark Capital Markets raised shares of Quarterhill from an “outperform” rating to a “top pick” rating and boosted their price target for the stock from C$4.40 to C$5.00 in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat.com, Quarterhill presently has an average rating of “Strong Buy” and a consensus price target of C$4.50.

Quarterhill Stock Down 0.4%

The stock has a 50 day moving average of C$2.75 and a 200-day moving average of C$2.28. The firm has a market capitalization of C$395.32 million, a P/E ratio of -6.47, a PEG ratio of 0.46 and a beta of -0.23. The company has a debt-to-equity ratio of 93.85, a quick ratio of 2.58 and a current ratio of 1.19.

Quarterhill (TSE:QTRH) last released its quarterly earnings data on Thursday, August 13th. The company reported C($0.07) EPS for the quarter. The business had revenue of C$60.40 million for the quarter. Quarterhill had a negative net margin of 31.81% and a negative return on equity of 56.86%. Research analysts predict that Quarterhill Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Quarterhill

In other Quarterhill news, Director Stephen A. Smith purchased 13,000 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average price of C$3.04 per share, with a total value of C$39,520.00. Following the completion of the transaction, the director directly owned 30,000 shares in the company, valued at approximately C$91,200. This trade represents a 76.47% increase in their position. 1.72% of the stock is owned by insiders.

Quarterhill Company Profile

Quarterhill is a global leader in the Intelligent Transportation System (ITS) industry, advancing mobility through smart infrastructure solutions that reduce congestion, improve roadway safety, and create more sustainable travel. Each year, Quarterhill’s platforms process billions of transactions, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic to improve travel for everyone. Leveraging advanced artificial intelligence and machine learning technologies, Quarterhill’s platform delivers automation and predictive insight to help agencies manage transportation networks more efficiently.