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

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

Wall Street Analyst Weigh In

GCL has been the topic of several research analyst reports. Raymond James Financial reduced their price target on shares of Colabor Group from C$1.80 to C$1.50 and set an “outperform” rating on the stock in a research report on Monday, July 28th. Desjardins dropped their price target on shares of Colabor Group from C$1.75 to C$1.50 and set a “buy” rating on the stock in a research note on Monday, July 28th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$1.50.

Colabor Group Stock Down 58.7%

The company has a quick ratio of 0.76, a current ratio of 1.62 and a debt-to-equity ratio of 153.61. The firm has a market cap of C$26.52 million, a price-to-earnings ratio of -6.50, a price-to-earnings-growth ratio of 0.61 and a beta of -0.17. The stock’s 50 day moving average is C$0.67 and its 200 day moving average is C$0.80.

Insider Transactions at Colabor Group

In other Colabor Group news, insider Robert John Briscoe sold 100,000 shares of Colabor Group stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of C$0.80, for a total value of C$80,000.00. Company insiders own 25.04% of the company’s stock.

About Colabor Group

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.