Shares of DIRTT Environmental (NASDAQ:DRTT) traded up 50% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $2.38 and last traded at $1.56, 12,843,176 shares changed hands during trading. An increase of 5,254% from the average session volume of 239,889 shares. The stock had previously closed at $1.04.

The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. The firm had revenue of $42.16 million for the quarter, compared to the consensus estimate of $39.20 million. DIRTT Environmental had a negative net margin of 3.36% and a negative return on equity of 5.73%.

Several analysts recently weighed in on the stock. ValuEngine upgraded shares of DIRTT Environmental from a “hold” rating to a “buy” rating in a research report on Tuesday, April 21st. Zacks Investment Research downgraded shares of DIRTT Environmental from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Raymond James restated a “buy” rating and set a $2.00 price target on shares of DIRTT Environmental in a research report on Friday. Finally, National Bank Financial upgraded shares of DIRTT Environmental from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. DIRTT Environmental currently has a consensus rating of “Buy” and an average price target of $3.83.

In other DIRTT Environmental news, insider Jennifer Warawa acquired 25,000 shares of the stock in a transaction dated Monday, June 15th. The shares were bought at an average price of $1.33 per share, with a total value of $33,250.00. Following the purchase, the insider now directly owns 25,000 shares of the company’s stock, valued at approximately $33,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of DIRTT Environmental by 181.0% in the 1st quarter. Royal Bank of Canada now owns 38,328 shares of the company’s stock worth $39,000 after purchasing an additional 24,687 shares during the last quarter. UBS Group AG grew its stake in shares of DIRTT Environmental by 763.0% in the 1st quarter. UBS Group AG now owns 43,997 shares of the company’s stock worth $45,000 after purchasing an additional 38,899 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of DIRTT Environmental in the 1st quarter worth approximately $46,000. Advisor Group Holdings Inc. acquired a new position in shares of DIRTT Environmental in the 1st quarter worth approximately $55,000. Finally, Creative Planning grew its stake in shares of DIRTT Environmental by 32.8% in the 1st quarter. Creative Planning now owns 60,300 shares of the company’s stock worth $62,000 after purchasing an additional 14,900 shares during the last quarter. 38.94% of the stock is currently owned by institutional investors.

The company’s 50 day moving average price is $1.22 and its 200-day moving average price is $1.60. The company has a quick ratio of 1.95, a current ratio of 2.49 and a debt-to-equity ratio of 0.12.

About DIRTT Environmental (NASDAQ:DRTT)

DIRTT Environmental Solutions Ltd. engages in the manufacture of customized interiors. It produces its products by using three dimensional design, configuration and manufacturing software, and in-house manufacturing of its prefabricated interior construction solutions. The company was founded by Geoff Gosling, Barrie Loberg, Kristin Moore, and Mogens F.

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