Colabor Group (TSE:GCL) Shares Down 58.7% – Here’s Why

Shares of Colabor Group Inc. (TSE:GCL) were down 58.7% on Saturday . The stock traded as low as C$0.13 and last traded at C$0.26. Approximately 5,638,897 shares traded hands during mid-day trading, an increase of 4,566% from the average daily volume of 120,844 shares. The stock had previously closed at C$0.63.

Analyst Ratings Changes

Several equities research analysts have weighed in on GCL shares. Raymond James Financial lowered their target price on Colabor Group from C$1.80 to C$1.50 and set an “outperform” rating for the company in a report on Monday, July 28th. Desjardins reduced their price target on Colabor Group from C$1.75 to C$1.50 and set a “buy” rating for the company in a research report on Monday, July 28th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$1.50.

Colabor Group Trading Down 58.7%

The stock has a market capitalization of C$26.52 million, a P/E ratio of -6.50, a price-to-earnings-growth ratio of 0.61 and a beta of -0.17. The company has a current ratio of 1.62, a quick ratio of 0.76 and a debt-to-equity ratio of 153.61. The company has a 50-day moving average price of C$0.67 and a 200 day moving average price of C$0.80.

Insider Transactions at Colabor Group

In related news, insider Robert John Briscoe sold 100,000 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of C$0.80, for a total transaction of C$80,000.00. 25.04% of the stock is owned by corporate insiders.

Colabor Group Company Profile

Colabor Group Inc is a wholesaler and distributor of food and related products in Canada. The company operates in two segments Distribution and Wholesale segment. Its Distribution segment operations include the distribution of food products and related products in hotels, restaurants and institutions (HRI) and retail market.