Carmanah Technologies (CMH) Cut to “Hold” at Canaccord Genuity

Canaccord Genuity lowered shares of Carmanah Technologies (TSE:CMH) from a buy rating to a hold rating in a research note issued to investors on Monday, BayStreet.CA reports. The firm currently has C$7.50 target price on the stock.

Separately, Cormark upped their target price on Carmanah Technologies from C$6.50 to C$7.00 in a research report on Monday.

Shares of TSE CMH opened at C$6.73 on Monday. The company has a market capitalization of $127.46 million and a P/E ratio of -84.13. Carmanah Technologies has a 52 week low of C$3.39 and a 52 week high of C$6.99. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.71 and a current ratio of 3.77.

Carmanah Technologies Company Profile

Carmanah Technologies Corporation designs, develops, and distributes products focused on energy optimized light LED solutions for infrastructure worldwide. It operates in Signals and Illumination segments. The Signals segment provides solar LED flashing beacons, including pedestrian crosswalk signals, school zone flashers, and 24-hr roadway beacons for various roadway applications; a range of marine lighting solutions to coast guards, marine authorities, navies, and ports; and LED aviation lighting solutions, such as approach lightings, apron lightings, and solar and hybrid power systems.

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