Quarterhill (TSE:QTRH) Upgraded at ATB Cormark Capital Markets

Key Points

• ATB Cormark upgraded Quarterhill from “outperform” to “top pick” and raised its price target from C$4.40 to C$5.00, implying approximately 93% upside from the reported C$2.59 share price.
• Quarterhill shares rose to C$2.59 during Wednesday trading, near their 12-month high of C$2.78. The company has a C$310.75 million market capitalization but continues to report weak profitability, including negative earnings, net margin, and return on equity.
• Director Burland Bland East purchased 129,000 shares for approximately C$228,330, increasing his position by more than 1,500%; company insiders collectively own 1.72% of Quarterhill.

Quarterhill (TSE:QTRH - Get Free Report) was upgraded by equities researchers at ATB Cormark Capital Markets from an "outperform" rating to a "top pick" rating in a report released on Wednesday,BayStreet.CA reports. The firm presently has a C$5.00 price objective on the stock, up from their previous price objective of C$4.40. ATB Cormark Capital Markets' price objective points to a potential upside of 93.05% from the stock's current price.

Quarterhill Stock Performance

Shares of TSE:QTRH traded up C$0.19 during trading on Wednesday, reaching C$2.59. 111,570 shares of the stock were exchanged, compared to its average volume of 218,533. Quarterhill has a 12 month low of C$0.89 and a 12 month high of C$2.78. The stock has a 50-day moving average price of C$2.14 and a 200-day moving average price of C$1.51. The company has a current ratio of 0.94, a quick ratio of 2.58 and a debt-to-equity ratio of 72.54. The firm has a market cap of C$310.75 million, a PE ratio of -5.85, a PEG ratio of 0.46 and a beta of 0.08.

Quarterhill (TSE:QTRH - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported C($0.06) earnings per share for the quarter. The firm 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%. Research analysts expect that Quarterhill will post 0.0200567 EPS for the current fiscal year.

Insider Activity at Quarterhill

In other Quarterhill news, Director Iii Burland Bland East purchased 129,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of C$1.77 per share, for a total transaction of C$228,330.00. Following the completion of the purchase, the director owned 137,500 shares of the company's stock, valued at approximately C$243,375. The trade was a 1,517.65% increase in their position. 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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