If the company has a low share price, does it mean it's a lousy company?

Not at all, because looking at share price as an absolute does not make sense in evaluating a company.

Initial questions to ask:

• is the business growing? At what rate compared to it's competitors?
• do they grow consistently year on year, and are in line with management guidance?
• is the business in a growth industry?
• what is it's leadership position in the market it competes in?
• how are their financials, and how are margins trending?
• how healthy is their balance sheet and what is their cash conversion cycles like compared to peers?
• post looking at the above, look at valuation ratios
• understand how their stock has moved, and how news have impacted them both positively and negatively

Of course, the whole art and science of determining whether a company is a 'lousy' company is an entire industry by itself, which can't be summarized by merely a few questions ;)

Hello!

a company with low share price does not mean that a company is lousy, there could be other reasons besides it steming from a deterioration in the business environment which the company is in, thereby resulting in poorer future prospects which could make the price low. Other reasons for the share price declining could arise from a gap between expectations and reality, or an overall pessimistic mood due to a persistent bear market and not because the company is lousy.

Hope this helps!