Quarterhill (TSE:QTRH) Shares Climb 9.7% - Here's What Happened

Key Points

• Quarterhill shares climbed 9.7% to C$2.95, with trading volume 84% above its average daily level.
• ATB Cormark upgraded the stock to a “top pick” and raised its price target to C$5.00; MarketBeat reports an average “Strong Buy” rating and C$5.00 target.
• The company reported a quarterly loss of C$0.07 per share on C$60.40 million in revenue, while director Stephen A. Smith purchased 13,000 shares worth C$39,520.

Quarterhill Inc. (TSE:QTRH - Get Free Report)'s stock price rose 9.7% on Monday. The stock traded as high as C$2.96 and last traded at C$2.95. 409,560 shares changed hands during trading, an increase of 84% from the average daily volume of 222,618 shares. The stock had previously closed at C$2.69.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets raised shares of Quarterhill from an "outperform" rating to a "top pick" rating and raised their price target for the company from C$4.40 to C$5.00 in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Quarterhill presently has an average rating of "Strong Buy" and an average price target of C$5.00.

Quarterhill Price Performance

The company has a current ratio of 1.19, a quick ratio of 2.58 and a debt-to-equity ratio of 93.85. The business's 50-day simple moving average is C$2.73 and its two-hundred day simple moving average is C$2.06. The firm has a market cap of C$412.38 million, a price-to-earnings ratio of -6.74, a P/E/G ratio of 0.46 and a beta of -0.06.

Quarterhill (TSE:QTRH - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share for the quarter. The business had revenue of C$60.40 million for the quarter. Quarterhill had a negative return on equity of 56.86% and a negative net margin of 31.81%. As a group, research analysts expect that Quarterhill Inc. will post 0.0200567 EPS for the current fiscal year.

Insiders Place Their Bets

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

Quarterhill Company Profile

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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