Quartix Technologies (LON:QTX) Trading 14.6% Higher – Time to Buy?

Shares of Quartix Technologies plc (LON:QTX) traded up 14.6% on Wednesday . The company traded as high as GBX 247.20 and last traded at GBX 243. 125,368 shares changed hands during mid-day trading, an increase of 131% from the average session volume of 54,271 shares. The stock had previously closed at GBX 212.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 330 target price on shares of Quartix Technologies in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of GBX 330.

Quartix Technologies Stock Performance

The firm has a fifty day moving average of GBX 279.70 and a 200 day moving average of GBX 280.74. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.60 and a quick ratio of 1.00. The stock has a market capitalization of £120.83 million, a price-to-earnings ratio of 22.93 and a beta of 0.59.

Quartix Technologies (LON:QTX) last announced its quarterly earnings results on Wednesday, March 25th. The company reported GBX 13.18 earnings per share (EPS) for the quarter. Quartix Technologies had a return on equity of 25.90% and a net margin of 15.51%. On average, sell-side analysts anticipate that Quartix Technologies plc will post 9.6330846 earnings per share for the current fiscal year.

Quartix Technologies Company Profile

The Quartix vehicle tracking system has been installed in over 800,000 vehicles.

Quartix was founded in 2001 by four industry professionals in the UK who have a combined 120+ years experience in systems design, telemetry, embedded computing, communications and database design and implementation.

We now have more than 30,000 fleet customers globally. Fleet managers from many sectors benefit from the tracking services provided.