Quarterhill (TSE:QTRH) Stock Price Down 2.9% – Here’s What Happened

Quarterhill Inc. (TSE:QTRH) was down 2.9% on Friday. The stock traded as low as C$2.64 and last traded at C$2.69. Approximately 166,206 shares changed hands during trading, a decline of 25% from the average daily volume of 221,879 shares. The stock had previously closed at C$2.77.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets raised 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 research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus price target of C$5.00.

Quarterhill Stock Down 2.9%

The company has a debt-to-equity ratio of 93.85, a current ratio of 1.19 and a quick ratio of 2.58. The firm’s 50-day moving average is C$2.73 and its 200 day moving average is C$2.05. The stock has a market cap of C$382.52 million, a price-to-earnings ratio of -6.26, a price-to-earnings-growth ratio of 0.46 and a beta of -0.06.

Quarterhill (TSE:QTRH) last announced its quarterly earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share for the quarter. The company had revenue of C$60.40 million during the quarter. Quarterhill had a negative net margin of 31.81% and a negative return on equity of 56.86%. Sell-side analysts anticipate that Quarterhill Inc. will post 0.0200567 earnings per share for the current fiscal year.

Insider Buying and Selling at Quarterhill

In other news, Director Stephen A. Smith bought 13,000 shares of Quarterhill stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of C$3.04 per share, for a total transaction of C$39,520.00. Following the completion of the acquisition, the director owned 30,000 shares of the company’s stock, valued at C$91,200. The trade was a 76.47% increase in their ownership of the stock. 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.