Quarterhill (TSE:QTRH) Reaches New 12-Month High - Here's What Happened

Key Points

• Quarterhill shares reached a new 52-week high, trading as high as C$3.15 and last at C$3.17, up from the prior close of C$3.03.
• ATB Cormark upgraded Quarterhill to a “top pick” from “outperform” and raised its price target to C$5.00. The stock has an overall “Strong Buy” rating from the sole analyst covering it.
• Quarterhill reported quarterly revenue of C$53.68 million and a loss of C$0.06 per share, while director Burland Bland East purchased 17,000 shares for C$31,280, increasing his holdings by 12.36%.

Quarterhill Inc. (TSE:QTRH - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as C$3.15 and last traded at C$3.17, with a volume of 304861 shares trading hands. The stock had previously closed at C$3.03.

Analyst Upgrades and Downgrades

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

Quarterhill Stock Up 4.6%

The company has a debt-to-equity ratio of 72.54, a quick ratio of 2.58 and a current ratio of 0.94. The stock's 50 day moving average price is C$2.25 and its 200-day moving average price is C$1.59. The company has a market cap of C$380.34 million, a PE ratio of -7.15, a PEG ratio of 0.46 and a beta of 0.09.

Quarterhill (TSE:QTRH - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported C($0.06) earnings per share for the quarter. Quarterhill had a negative return on equity of 50.09% and a negative net margin of 33.64%.The business had revenue of C$53.68 million during the quarter. On average, analysts predict that Quarterhill Inc. will post 0.0200567 earnings per share for the current year.

Insider Buying and Selling at Quarterhill

In related news, Director Iii Burland Bland East purchased 17,000 shares of Quarterhill stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of C$1.84 per share, for a total transaction of C$31,280.00. Following the transaction, the director directly owned 154,500 shares in the company, valued at C$284,280. The trade was a 12.36% increase in their ownership of the stock. Company 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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