Quarterhill (NASDAQ:QTRH) Downgraded to Hold at Zacks Investment Research

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Quarterhill (NASDAQ:QTRH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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 NASDAQ:QTRH traded down $0.01 during trading on Thursday, reaching $1.23. 11,959 shares of the stock were exchanged, compared to its average volume of 50,934. 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 12-month low of $0.86 and a 12-month high of $1.55. The firm has a market capitalization of $146.15 million, a price-to-earnings ratio of -5.13 and a beta of 0.72. The company has a 50-day moving average price of $1.10.

Quarterhill (NASDAQ:QTRH) last issued its earnings results on Thursday, May 9th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.06. Quarterhill had a negative return on equity of 10.95% and a negative net margin of 35.21%. The business had revenue of $39.84 million during the quarter. On average, analysts expect that Quarterhill will post -0.01 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Quarterhill stock. Fairfax Financial Holdings Ltd Can purchased a new position in shares of Quarterhill Inc (NASDAQ:QTRH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 800,000 shares of the company’s stock, valued at approximately $779,000. Fairfax Financial Holdings Ltd Can owned 0.67% of Quarterhill at the end of the most recent quarter. Institutional investors own 10.08% of the company’s stock.

About Quarterhill

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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