Quarterhill (TSE:QTRH) Shares Up 40.1% – Should You Buy?

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

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets lifted their price objective on Quarterhill from C$2.00 to C$2.75 and gave the stock an “outperform” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$2.75.

Quarterhill Stock Up 36.6%

The business’s fifty day simple moving average is C$1.73 and its 200 day simple moving average is C$1.28. The stock has a market cap of C$281.96 million, a price-to-earnings ratio of -5.30, a price-to-earnings-growth ratio of 0.46 and a beta of 0.10. The company has a current ratio of 0.94, a quick ratio of 2.58 and a debt-to-equity ratio of 72.54.

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

Insiders Place Their Bets

In related news, Director Iii Burland Bland East bought 129,000 shares of Quarterhill stock in a transaction on Friday, May 15th. The shares were purchased at an average price of C$1.77 per share, for a total transaction of C$228,330.00. Following the completion of the acquisition, the director owned 137,500 shares in the company, valued at approximately C$243,375. This represents a 1,517.65% increase in their ownership of the stock. 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.