Quarterhill (TSE:QTRH) Shares Down 0.4% - Here's Why

Key Points

• Quarterhill shares fell 0.4% to C$2.78 in mid-day trading, with volume down 57% from the average daily level.
• Analyst sentiment remains positive overall: ATB Cormark upgraded the stock to “top pick” with a C$5.00 target, while CIBC cut its target to C$4.00; the consensus rating is “Strong Buy” with a C$4.50 average target.
• Quarterhill reported a quarterly loss of C$0.07 per share, C$60.4 million in revenue, and negative profitability metrics. Director Stephen A. Smith purchased 13,000 shares at C$3.04 each, increasing his position by 76.47%.

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

Analyst Upgrades and Downgrades

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

Quarterhill Stock Performance

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 stock has a market cap of C$395.32 million, a PE ratio of -6.47, a price-to-earnings-growth ratio of 0.46 and a beta of -0.23. The company's 50 day simple moving average is C$2.75 and its 200 day simple moving average is C$2.28.

Quarterhill (TSE:QTRH - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported C($0.07) EPS 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. Analysts expect that Quarterhill Inc. will post 0.02 earnings per share for the current year.

Insider Activity at Quarterhill

In other Quarterhill news, Director Stephen A. Smith purchased 13,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was 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 owned 30,000 shares of the company's stock, valued at C$91,200. The trade was a 76.47% increase in their position. Insiders own 1.72% of the company's stock.

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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