Quarterhill (TSE:QTRH) Stock Price Up 6.2% Following Analyst Upgrade

Shares of Quarterhill Inc. (TSE:QTRH) traded up 6.2% during trading on Wednesday after ATB Cormark Capital Markets upgraded the stock from an outperform rating to a top pick rating. ATB Cormark Capital Markets now has a C$5.00 price target on the stock, up from their previous price target of C$4.40. Quarterhill traded as high as C$2.55 and last traded at C$2.55. Approximately 107,870 shares changed hands during trading, a decline of 51% from the average daily volume of 218,526 shares. The stock had previously closed at C$2.40.

Insider Activity at Quarterhill

In other news, Director Iii Burland Bland East purchased 17,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average price of C$1.84 per share, for a total transaction of C$31,280.00. Following the acquisition, the director directly owned 154,500 shares in the company, valued at approximately C$284,280. The trade was a 12.36% increase in their position. 1.72% of the stock is owned by company insiders.

Quarterhill Price Performance

The company has a quick ratio of 2.58, a current ratio of 0.94 and a debt-to-equity ratio of 72.54. The company has a market cap of C$305.95 million, a price-to-earnings ratio of -5.76, a price-to-earnings-growth ratio of 0.46 and a beta of 0.08. The company has a fifty day simple moving average of C$2.14 and a two-hundred day simple moving average of C$1.51.

Quarterhill (TSE:QTRH) last announced 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 during the quarter. Quarterhill had a negative net margin of 33.64% and a negative return on equity of 50.09%. On average, equities research analysts anticipate that Quarterhill Inc. will post 0.0200567 earnings per share for the current fiscal year.

Quarterhill Company Profile

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.