Quarterhill (TSE:QTRH) Stock Price Down 13.5% – Time to Sell?

Quarterhill Inc. (TSE:QTRH)’s stock price fell 13.5% during trading on Tuesday. The stock traded as low as C$2.41 and last traded at C$2.43. 782,327 shares changed hands during mid-day trading, an increase of 259% from the average session volume of 218,041 shares. The stock had previously closed at C$2.81.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce cut their price target on Quarterhill from C$4.50 to C$4.00 in a research report on Wednesday, September 30th. ATB Cormark Capital Markets raised Quarterhill from an “outperform” rating to a “top pick” rating and boosted their price objective for the company from C$4.40 to C$5.00 in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and a consensus price target of C$4.50.

Quarterhill Price Performance

The company has a quick ratio of 2.58, a current ratio of 1.19 and a debt-to-equity ratio of 93.85. The firm has a market capitalization of C$339.86 million, a PE ratio of -5.56, a PEG ratio of 0.46 and a beta of -0.30. The stock has a 50-day moving average price of C$2.73 and a 200 day moving average price of C$2.00.

Quarterhill (TSE:QTRH) last issued its quarterly earnings results on Tuesday, November 10th. The company reported C($0.19) EPS for the quarter. The company had revenue of C$61.44 million during the quarter. Quarterhill had a negative return on equity of 56.86% and a negative net margin of 31.81%. Equities analysts forecast that Quarterhill Inc. will post 0.02 EPS for the current fiscal year.

Insider Activity

In other Quarterhill news, Director Stephen A. Smith bought 13,000 shares of Quarterhill stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of C$3.04 per share, for a total transaction of C$39,520.00. Following the completion of the transaction, the director directly owned 30,000 shares of the company’s stock, valued at approximately C$91,200. This represents a 76.47% increase in their ownership of the stock. 1.72% of the stock is owned by insiders.

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.