Colabor Group (TSE:GCL) Shares Down 54% – Here’s What Happened

Shares of Colabor Group Inc. (TSE:GCL) fell 54% on Friday . The company traded as low as C$0.13 and last traded at C$0.29. 4,996,392 shares changed hands during mid-day trading, an increase of 4,158% from the average session volume of 117,341 shares. The stock had previously closed at C$0.63.

Analyst Ratings Changes

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

Colabor Group Trading Down 58.7%

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

Insider Buying and Selling

In other Colabor Group news, insider Robert John Briscoe sold 100,000 shares of the stock in a transaction 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. 25.04% of the stock is currently owned by 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.