Colabor Group (TSE:GCL) Shares Down 58.7% – What’s Next?

Shares of Colabor Group Inc. (TSE:GCL) were down 58.7% during mid-day trading on Friday . The stock traded as low as C$0.13 and last traded at C$0.26. Approximately 3,077,905 shares traded hands during mid-day trading, an increase of 2,910% from the average daily volume of 102,266 shares. The stock had previously closed at C$0.63.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GCL shares. Raymond James Financial reduced their price target 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 report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Colabor Group presently has an average rating of “Buy” and a consensus target price of C$1.50.

Colabor Group Stock Down 58.7%

The business has a fifty day simple moving average of C$0.67 and a 200 day simple moving average of C$0.80. The firm has a market cap of C$26.52 million, a price-to-earnings ratio of -6.50, a PEG ratio of 0.61 and a beta of -0.17. The company has a debt-to-equity ratio of 153.61, a current ratio of 1.62 and a quick ratio of 0.76.

Insider Activity at Colabor Group

In other Colabor Group news, insider Robert John Briscoe sold 100,000 shares of the stock in a transaction that occurred on 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 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.