Quarterhill (TSE:QTRH) Stock Price Down 1.7% – Here’s Why

Quarterhill Inc. (TSE:QTRH) shares traded down 1.7% on Thursday . The company traded as low as C$1.75 and last traded at C$1.76. 82,175 shares were traded during trading, a decline of 56% from the average daily volume of 185,077 shares. The stock had previously closed at C$1.79.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets upped their target price on Quarterhill from C$2.00 to C$2.75 and gave the company an “outperform” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Quarterhill presently has an average rating of “Buy” and an average price target of C$2.75.

Quarterhill Trading Down 1.7%

The firm has a market cap of C$211.17 million, a price-to-earnings ratio of -3.97, a price-to-earnings-growth ratio of 0.46 and a beta of 0.10. The business has a 50 day moving average of C$1.69 and a 200 day moving average of C$1.24. The company has a quick ratio of 2.58, a current ratio of 0.94 and a debt-to-equity ratio of 72.54.

Quarterhill (TSE:QTRH) last announced its earnings results on Thursday, May 14th. The company reported C($0.06) earnings per share for the quarter. Quarterhill had a negative net margin of 33.64% and a negative return on equity of 50.09%. The firm had revenue of C$53.68 million during the quarter. On average, research analysts forecast that Quarterhill Inc. will post 0.0200567 earnings per share for the current fiscal year.

Insider Buying and Selling at Quarterhill

In other news, Director Iii Burland Bland East acquired 129,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of C$1.77 per share, with a total value of C$228,330.00. Following the completion of the transaction, the director directly owned 137,500 shares in the company, valued at approximately C$243,375. This represents a 1,517.65% increase in their position. 1.72% of the stock is currently owned by corporate 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.