Quarterhill (TSE:QTRH) Sets New 1-Year High – Should You Buy?

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

Wall Street Analysts Forecast Growth

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

Quarterhill Trading 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 simple moving average is C$2.25 and its 200-day simple moving average is C$1.59. The firm has a market capitalization of C$380.34 million, a PE ratio of -7.15, a P/E/G ratio of 0.46 and a beta of 0.09.

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

Insider Activity

In other news, Director Iii Burland Bland East bought 129,000 shares of the stock in a transaction dated Friday, May 15th. The stock was bought at an average price of C$1.77 per share, for a total transaction of C$228,330.00. Following the purchase, the director directly owned 137,500 shares in the company, valued at C$243,375. This trade represents a 1,517.65% increase in their position. Corporate 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.