Quarterhill (TSE:QTRH) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Quarterhill Inc. (TSE:QTRH)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$2.67 and traded as low as C$2.44. Quarterhill shares last traded at C$2.55, with a volume of 160,317 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets upgraded 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 research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Quarterhill has an average rating of “Strong Buy” and an average target price of C$5.00.

Quarterhill Stock Performance

The company has a market capitalization of C$306.97 million, a PE ratio of -5.88, a PEG ratio of 0.46 and a beta of -0.06. The company has a debt-to-equity ratio of 93.85, a quick ratio of 2.58 and a current ratio of 1.19. The company has a 50 day moving average price of C$2.68 and a 200 day moving average price of C$1.88.

Quarterhill (TSE:QTRH) last released its quarterly earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share for the quarter. The company had revenue of C$60.40 million for the quarter. Quarterhill had a negative return on equity of 56.86% and a negative net margin of 31.81%. Equities analysts forecast that Quarterhill Inc. will post 0.0200567 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stephen A. Smith bought 13,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of C$3.04 per share, with a total value of C$39,520.00. Following the transaction, the director owned 30,000 shares of the company’s stock, valued at approximately C$91,200. This trade represents a 76.47% increase in their ownership of the stock. 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.