Stocks

Quorum Information Technologies (CVE:QIS) Sets New 12-Month High - Time to Buy?

Published January 7, 2025

Quorum Information Technologies Inc. (CVE:QIS) reached a new 52-week high during trading on Monday, peaking at C$0.98. The stock closed at this high with a trading volume of 84,858 shares, up from its previous close of C$0.95.

Quorum Information Technologies Stock Performance

The stock rose by 3.2% during the trading session. Quorum Information Technologies maintains a debt-to-equity ratio of 41.17, indicating its financial leveraging. Its current ratio stands at 2.12, and the quick ratio is at 2.13, suggesting good short-term financial health. The company boasts a market capitalization of C$72.11 million with a price-to-earnings ratio of 30.67 and a beta of 0.20, reflecting lower volatility compared to the market. The stock's 50-day moving average price is C$0.90, while the 200-day moving average price is C$0.87.

About Quorum Information Technologies

Quorum Information Technologies Inc. is an information technology firm that specializes in the automotive retail industry across Canada and the United States. The company develops, markets, implements, and supports several software solutions tailored for automotive businesses. Notable products include Quorum DMS, a dealership management system; Autovance Desk, Menu, and MyDeal, which facilitate sales desking, menuing, and digital retailing; DealerMine for service and sales customer relationship management; Accessible Accessories as a digital retailing platform; and VINN, an automotive marketplace.

Investment Considerations

As Quorum Information Technologies hits a new high, potential investors may wonder whether now is the right time to buy shares. However, it's essential to note that analysts currently hold a "Hold" rating for Quorum. MarketBeat noted that some top analysts have flagged other stocks as better investment opportunities. If you're looking to research potential investments carefully, it’s worth exploring these recommendations to ensure you're making a balanced decision.

Quorum, Stocks, Performance