Quartix Technologies (LON:QTX) Stock Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Quartix Technologies shares fell below their 200-day moving average on Thursday, trading as low as GBX 251.20 versus a 200-day average of GBX 271.10.
• Despite the recent dip, analyst sentiment remains positive: Canaccord Genuity reaffirmed a buy rating and a GBX 330 price target, matching the broader consensus.
• The company reported recent quarterly EPS of GBX 13.18 and posted a 17.87% net margin with 23.66% return on equity, while analysts expect about 9.63 EPS for the full year.

Shares of Quartix Technologies plc (LON:QTX) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 271.10 and traded as low as GBX 251.20. Quartix Technologies shares last traded at GBX 251.50, with a volume of 20,363 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 330 price target on shares of Quartix Technologies in a research report on Monday, March 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of GBX 330.

Quartix Technologies Stock Performance

The stock has a market capitalization of £122.21 million, a PE ratio of 19.15 and a beta of 0.87. The firm's fifty day moving average is GBX 249.38 and its 200-day moving average is GBX 271.10. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.54.

Quartix Technologies (LON:QTX - Get Free Report) last issued its quarterly earnings data on Wednesday, March 25th. The company reported GBX 13.18 earnings per share (EPS) for the quarter. Quartix Technologies had a net margin of 17.87% and a return on equity of 23.66%. As a group, research analysts anticipate that Quartix Technologies plc will post 9.6330846 earnings per share for the current year.

About Quartix Technologies

The Quartix vehicle tracking system has been installed in over 800,000 vehicles. Quartix was founded in 2001 by four industry professionals in the UK who have a combined 120+ years experience in systems design, telemetry, embedded computing, communications and database design and implementation. We now have more than 30,000 fleet customers globally. Fleet managers from many sectors benefit from the tracking services provided.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.