Short Interest in Quarterhill Inc (NASDAQ:QTRH) Drops By 10.1%

Quarterhill Inc (NASDAQ:QTRH) was the target of a significant drop in short interest during the month of December. As of December 13th, there was short interest totalling 66,600 shares, a drop of 10.1% from the November 28th total of 74,100 shares. Based on an average daily volume of 82,900 shares, the short-interest ratio is presently 0.8 days. Currently, 0.1% of the company’s stock are sold short.

Several institutional investors and hedge funds have recently made changes to their positions in QTRH. Sargent Investment Group LLC purchased a new position in Quarterhill during the 2nd quarter worth approximately $36,000. Bank of Montreal Can boosted its position in 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 acquiring an additional 53,217 shares during the period. Royal Bank of Canada grew its stake in Quarterhill by 6.9% during the 2nd quarter. Royal Bank of Canada now owns 893,884 shares of the company’s stock valued at $965,000 after acquiring an additional 57,745 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Quarterhill by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,740,007 shares of the company’s stock valued at $1,879,000 after acquiring an additional 61,476 shares in the last quarter. Institutional investors own 10.22% of the company’s stock.

Quarterhill stock traded down $0.15 during midday trading on Tuesday, hitting $1.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.83 and a quick ratio of 3.59. The company has a fifty day moving average price of $1.25 and a 200-day moving average price of $1.27. Quarterhill has a 1-year low of $0.86 and a 1-year high of $1.45. The firm has a market capitalization of $160.95 million, a PE ratio of -5.00 and a beta of 0.63.

Quarterhill (NASDAQ:QTRH) last issued its earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter. Quarterhill had a negative return on equity of 6.62% and a negative net margin of 11.31%. The business had revenue of $25.37 million for the quarter. Sell-side analysts predict that Quarterhill will post 0.11 EPS for the current fiscal year.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Quarterhill from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. ValuEngine cut shares of Quarterhill from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

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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