Quarterhill (QTRH) Upgraded to “Buy” at Zacks Investment Research

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Quarterhill (NASDAQ:QTRH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, Zacks.com reports. The brokerage presently has a $1.25 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.74% from the stock’s previous close.

According to Zacks, “Quarterhill Inc. is a diversified investment holding company. It focused on growing its business by acquiring technology companies in the Industrial Internet of Things segment across multiple verticals. The company’s products and services capture, analyze and interpret data. Quarterhill Inc, formerly known as Wi-LAN Inc, is based in Ottawa, Canada. “

Shares of Quarterhill stock opened at $1.08 on Thursday. The firm has a market capitalization of $128.32 million, a PE ratio of -4.50 and a beta of 0.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.79 and a current ratio of 2.96. Quarterhill has a 1 year low of $0.86 and a 1 year high of $1.55.

Quarterhill (NASDAQ:QTRH) last issued its earnings results on Thursday, May 9th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $39.84 million during the quarter. Quarterhill had a negative return on equity of 10.95% and a negative net margin of 35.21%. On average, sell-side analysts anticipate that Quarterhill will post -0.02 earnings per share for the current year.

An institutional investor recently raised its position in Quarterhill stock. Renaissance Technologies LLC increased its position in Quarterhill Inc (NASDAQ:QTRH) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,678,531 shares of the company’s stock after purchasing an additional 47,429 shares during the quarter. Renaissance Technologies LLC owned approximately 1.41% of Quarterhill worth $1,863,000 at the end of the most recent quarter. 10.69% of the stock is currently owned by institutional investors.

Quarterhill Company Profile

Quarterhill Inc focuses on acquisition and management of technology companies that provides products and services worldwide. Its Licensing segment includes patents relating to 3D television, semiconductor manufacturing and packaging, medical stent, intelligent personal assistant, enhanced image processing, streaming video, non-volatile flash and other memory, semiconductor clocking, LED lighting, and various other technologies; automotive headlight assemblies, phased loop semiconductor licensing, microcontrollers applicable to safety-critical aerospace, computer gaming, CMOS image sensors, building automation, and smart meter monitoring; and medical, industrial, and automotive applications.

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