Quarterhill (TSE:QTRH) Shares Down 0.4% – What’s Next?

Quarterhill Inc. (TSE:QTRH)’s share price was down 0.4% on Wednesday. The company traded as low as C$2.75 and last traded at C$2.78. 94,607 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 219,061 shares. The stock had previously closed at C$2.79.

Analyst Ratings Changes

A number of research analysts recently issued reports on QTRH shares. Canadian Imperial Bank of Commerce decreased their price target on shares of Quarterhill from C$4.50 to C$4.00 in a research note on Wednesday, September 30th. ATB Cormark Capital Markets raised shares of Quarterhill from an “outperform” rating to a “top pick” rating and increased their target price for the stock from C$4.40 to C$5.00 in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average price target of C$4.50.

Quarterhill Stock Performance

The company has a quick ratio of 2.58, a current ratio of 1.19 and a debt-to-equity ratio of 93.85. The stock has a market capitalization of C$385.36 million, a price-to-earnings ratio of -6.30, a price-to-earnings-growth ratio of 0.46 and a beta of -0.23. The stock’s 50-day simple moving average is C$2.75 and its 200 day simple moving average is C$2.29.

Quarterhill (TSE:QTRH) last announced its quarterly earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share (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$60.40 million during the quarter. Analysts expect that Quarterhill Inc. will post 0.02 earnings per share for the current fiscal year.

Insider Activity at Quarterhill

In other news, Director Stephen A. Smith purchased 13,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of C$3.04 per share, with a total value of C$39,520.00. Following the completion of the transaction, the director directly 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 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.