Quarterhill (TSE:QTRH) Sets New 52-Week High - Here's What Happened

Key Points

• Quarterhill shares hit a new 52-week high, reaching C$2.83 and closing near C$2.80, up 3.3% from the previous close amid trading volume of 260,186 shares.
• ATB Cormark upgraded the stock from “outperform” to “top pick” and raised its price target to C$5.00. Analysts maintain a consensus “Strong Buy” rating.
• Quarterhill reported a quarterly loss of C$0.06 per share on C$53.68 million in revenue, while director Burland Bland East purchased 17,000 shares, increasing his holdings by 12.36%.

Quarterhill Inc. (TSE:QTRH - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as C$2.83 and last traded at C$2.80, with a volume of 260186 shares traded. The stock had previously closed at C$2.72.

Wall Street Analyst Weigh In

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

Quarterhill Trading Up 3.3%

The company has a 50-day moving average price of C$2.17 and a 200-day moving average price of C$1.54. The firm has a market capitalization of C$337.15 million, a price-to-earnings ratio of -6.34, a PEG ratio of 0.46 and a beta of 0.08. The company has a debt-to-equity ratio of 72.54, a quick ratio of 2.58 and a current ratio of 0.94.

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

Insiders Place Their Bets

In related news, Director Iii Burland Bland East acquired 17,000 shares of Quarterhill stock in a transaction dated Wednesday, May 27th. The stock was acquired at an average price of C$1.84 per share, for a total transaction of C$31,280.00. Following the transaction, the director owned 154,500 shares of the company's stock, valued at C$284,280. This represents a 12.36% increase in their ownership of the stock. 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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