Quartix Technologies (LON:QTX) Shares Cross Below 50-Day Moving Average – Should You Sell?

Quartix Technologies plc (LON:QTX) passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of GBX 226.59 and traded as low as GBX 220. Quartix Technologies shares last traded at GBX 240, with a volume of 40,938 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 330 price objective on shares of Quartix Technologies in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of GBX 330.

Quartix Technologies Trading Up 1.1%

The company’s 50 day simple moving average is GBX 226.74 and its two-hundred day simple moving average is GBX 238.06. The company has a quick ratio of 0.99, a current ratio of 1.12 and a debt-to-equity ratio of 1.51. The company has a market capitalization of £111.45 million, a price-to-earnings ratio of 18.88 and a beta of 0.88.

Quartix Technologies (LON:QTX) last issued its quarterly earnings results on Monday, July 27th. The company reported GBX 5.52 earnings per share (EPS) for the quarter. Quartix Technologies had a return on equity of 19.61% and a net margin of 17.05%. As a group, research analysts anticipate that Quartix Technologies plc will post 9.6330846 earnings per share for the current fiscal 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.