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

Quarterhill (NASDAQ:QTRH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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. “

Several other equities research analysts have also recently commented on the company. TheStreet upgraded Quarterhill from a “d+” rating to a “c-” rating in a research note on Wednesday, July 31st. ValuEngine cut Quarterhill from a “buy” rating to a “hold” rating in a research note on Thursday.

NASDAQ QTRH opened at $1.24 on Thursday. The stock has a market capitalization of $143.77 million, a price-to-earnings ratio of -5.17 and a beta of 0.58. The stock’s 50 day moving average price is $1.34 and its two-hundred day moving average price is $1.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.47 and a current ratio of 2.61. Quarterhill has a 52 week low of $0.86 and a 52 week high of $1.45.

Quarterhill (NASDAQ:QTRH) last released its earnings results on Thursday, August 8th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $42.36 million during the quarter. Quarterhill had a negative net margin of 26.46% and a negative return on equity of 9.83%. On average, equities research analysts forecast that Quarterhill will post 0.05 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of Quarterhill by 382.2% during the 2nd quarter. Bank of Montreal Can now owns 67,142 shares of the company’s stock worth $72,000 after purchasing an additional 53,217 shares during the last quarter. Sargent Investment Group LLC acquired a new position in shares of Quarterhill during the 2nd quarter worth approximately $36,000. Renaissance Technologies LLC increased its position in shares of Quarterhill by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,740,007 shares of the company’s stock worth $1,879,000 after purchasing an additional 61,476 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Quarterhill by 6.9% during the 2nd quarter. Royal Bank of Canada now owns 893,884 shares of the company’s stock worth $965,000 after purchasing an additional 57,745 shares during the last quarter. Hedge funds and other institutional investors own 9.37% of the company’s stock.

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.

Featured Story: Hold Rating

Get a free copy of the Zacks research report on Quarterhill (QTRH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Quarterhill Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quarterhill and related companies with MarketBeat.com's FREE daily email newsletter.