Quarterhill (TSE:QTRH) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

Shares of Quarterhill Inc. (TSE:QTRH) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$2.73 and traded as high as C$2.88. Quarterhill shares last traded at C$2.86, with a volume of 91,663 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. ATB Cormark Capital Markets upgraded Quarterhill from an “outperform” rating to a “top pick” rating and upped their price objective for the company from C$4.40 to C$5.00 in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce lowered their target price on Quarterhill from C$4.50 to C$4.00 in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average price target of C$4.50.

Quarterhill Trading Up 5.5%

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 stock has a market capitalization of C$406.69 million, a PE ratio of -6.65, a PEG ratio of 0.46 and a beta of -0.23. The stock’s 50 day simple moving average is C$2.73 and its two-hundred day simple moving average is C$1.97.

Quarterhill (TSE:QTRH) last released its earnings results on Thursday, August 13th. The company reported C($0.07) earnings per share for the quarter. Quarterhill had a negative net margin of 31.81% and a negative return on equity of 56.86%. The company had revenue of C$60.40 million for the quarter. On average, sell-side analysts expect that Quarterhill Inc. will post 0.02 EPS for the current year.

Insider Buying and Selling

In other news, Director Stephen A. Smith acquired 13,000 shares of Quarterhill stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of C$3.04 per share, with a total value of C$39,520.00. Following the completion of the acquisition, the director owned 30,000 shares in the company, valued at approximately C$91,200. This trade represents a 76.47% 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.