Quarterhill (TSE:QTRH) Share Price Breaks Above Fifty Day Moving Average - Time to Sell?

Key Points

• Quarterhill shares rose above their 50-day moving average of C$2.73, reaching C$2.88 and last trading at C$2.86.
• Analyst views are positive overall: the consensus rating is Strong Buy with a C$4.50 target, though CIBC cut its target to C$4.00 while ATB raised its target to C$5.00.
• Quarterhill reported a quarterly loss of C$0.07 per share on C$60.4 million in revenue. Director Stephen A. Smith also bought 13,000 shares at C$3.04 each.

Shares of Quarterhill Inc. (TSE:QTRH - Get Free Report) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$2.73 and traded as high as C$2.88. Quarterhill shares last traded at C$2.86, with a volume of 91,663 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QTRH. Canadian Imperial Bank of Commerce lowered their price objective on Quarterhill from C$4.50 to C$4.00 in a research note on Wednesday, September 30th. ATB Cormark Capital Markets raised Quarterhill from an "outperform" rating to a "top pick" rating and lifted their target price for the company from C$4.40 to C$5.00 in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, Quarterhill has an average rating of "Strong Buy" and a consensus price target of C$4.50.

Quarterhill Stock Performance

The company has a debt-to-equity ratio of 93.85, a current ratio of 1.19 and a quick ratio of 2.58. The company's fifty day moving average price is C$2.73 and its 200 day moving average price is C$1.97. The company has a market cap of C$406.69 million, a PE ratio of -6.65, a P/E/G ratio of 0.46 and a beta of -0.23.

Quarterhill (TSE:QTRH - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share for the quarter. Quarterhill had a negative return on equity of 56.86% and a negative net margin of 31.81%. The firm had revenue of C$60.40 million for the quarter. On average, equities research analysts predict that Quarterhill Inc. will post 0.02 earnings per share for the current year.

Insider Activity at Quarterhill

In other news, Director Stephen A. Smith bought 13,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were purchased at an average price of C$3.04 per share, with a total value of C$39,520.00. Following the transaction, the director directly owned 30,000 shares in the company, valued at C$91,200. This represents a 76.47% increase in their ownership of the stock. 1.72% of the stock is currently owned by corporate 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.

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