Colabor Group (TSE:GCL) Shares Down 58.7% – Time to Sell?

Colabor Group Inc. (TSE:GCL)’s share price fell 58.7% during trading on Friday . The stock traded as low as C$0.13 and last traded at C$0.26. 5,638,897 shares changed hands during 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 Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Raymond James Financial decreased their price objective on shares of 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 decreased their target price on shares of Colabor Group from C$1.75 to C$1.50 and set a “buy” rating for the company in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Colabor Group has a consensus rating of “Buy” and a consensus price target of C$1.50.

Colabor Group Price Performance

The company 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 debt-to-equity ratio of 153.61, a current ratio of 1.62 and a quick ratio of 0.76. The firm’s 50-day moving average is C$0.67 and its 200-day moving average is C$0.80.

Insider Buying and Selling

In related news, insider Robert John Briscoe sold 100,000 shares of Colabor Group stock in a transaction 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. Corporate insiders own 25.04% of the company’s stock.

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.