Quarterhill (TSE:QTRH) Sets New 12-Month High on Insider Buying Activity

Shares of Quarterhill Inc. (TSE:QTRH) hit a new 52-week high during trading on Wednesday following insider buying activity. The stock traded as high as C$1.97 and last traded at C$1.95, with a volume of 247315 shares traded. The stock had previously closed at C$1.87.

Specifically, Director Iii Burland Bland East purchased 17,000 shares of Quarterhill stock in a transaction that occurred on Wednesday, May 27th. The shares were bought at an average cost of C$1.84 per share, with a total value of C$31,280.00. Following the completion of the purchase, the director directly owned 154,500 shares in the company, valued at approximately C$284,280. This trade represents a 12.36% increase in their ownership of the stock.

Analyst Ratings Changes

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

Quarterhill Stock Performance

The company has a debt-to-equity ratio of 72.54, a current ratio of 0.94 and a quick ratio of 2.58. The business has a 50-day simple moving average of C$1.43 and a 200 day simple moving average of C$1.12. The firm has a market cap of C$233.96 million, a PE ratio of -4.40, a PEG ratio of 0.46 and a beta of 0.14.

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

About Quarterhill

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.