Quarterhill (TSE:QTRH) Trading Up 40.1% – Here’s What Happened

Quarterhill Inc. (TSE:QTRH) was up 40.1% on Tuesday . The stock traded as high as C$2.50 and last traded at C$2.41. Approximately 2,728,638 shares were traded during mid-day trading, an increase of 1,266% from the average daily volume of 199,764 shares. The stock had previously closed at C$1.72.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets boosted their price target on Quarterhill from C$2.00 to C$2.75 and gave the company an “outperform” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$2.75.

Quarterhill Stock Performance

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 firm has a 50 day moving average price of C$1.77 and a two-hundred day moving average price of C$1.30. The company has a market capitalization of C$302.35 million, a P/E ratio of -5.69, a price-to-earnings-growth ratio of 0.46 and a beta of 0.10.

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

Insider Transactions at Quarterhill

In other news, Director Iii Burland Bland East purchased 129,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of C$1.77 per share, with a total value of C$228,330.00. Following the acquisition, the director directly owned 137,500 shares of the company’s stock, valued at approximately C$243,375. This trade represents a 1,517.65% increase in their position. 1.72% of the stock is owned by corporate insiders.

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.