Quarterhill (TSE:QTRH) Stock Falls 13.5% – Here’s Why

Quarterhill Inc. (TSE:QTRH)’s share price traded down 13.5% on Tuesday. The stock traded as low as C$2.41 and last traded at C$2.43. 782,327 shares were traded during trading, an increase of 259% from the average daily volume of 218,041 shares. The stock had previously closed at C$2.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on QTRH shares. Canadian Imperial Bank of Commerce cut their price target on Quarterhill from C$4.50 to C$4.00 in a report on Wednesday, September 30th. ATB Cormark Capital Markets raised Quarterhill from an “outperform” rating to a “top pick” rating and boosted their price objective 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 data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus price target of C$4.50.

Quarterhill Stock Performance

The firm’s 50 day moving average price is C$2.73 and its two-hundred day moving average price is C$2.00. 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 firm has a market cap of C$339.86 million, a PE ratio of -5.56, a PEG ratio of 0.46 and a beta of -0.30.

Quarterhill (TSE:QTRH) last released its quarterly earnings results on Tuesday, November 10th. The company reported C($0.19) EPS for the quarter. Quarterhill had a negative net margin of 31.81% and a negative return on equity of 56.86%. The firm had revenue of C$61.44 million for the quarter. On average, research analysts forecast that Quarterhill Inc. will post 0.02 earnings per share for the current year.

Insider Transactions at Quarterhill

In other Quarterhill news, Director Stephen A. Smith bought 13,000 shares of the business’s stock in a transaction on 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 completion of the purchase, the director directly owned 30,000 shares in the company, valued at C$91,200. The trade was a 76.47% increase in their ownership of the stock. 1.72% of the stock is currently owned by company insiders.

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.