Raymond James Downgrades EnWave (CVE:ENW) to Market Perform

EnWave (CVE:ENWGet Rating) was downgraded by equities research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, BayStreet.CA reports. They currently have a C$1.10 target price on the stock, down from their prior target price of C$1.65. Raymond James’ target price would indicate a potential upside of 64.18% from the company’s current price.

Shares of CVE ENW traded down C$0.01 during mid-day trading on Wednesday, reaching C$0.67. The company’s stock had a trading volume of 21,020 shares, compared to its average volume of 53,458. The stock has a fifty day moving average of C$0.78 and a two-hundred day moving average of C$0.87. EnWave has a 52 week low of C$0.60 and a 52 week high of C$1.20. The firm has a market capitalization of C$73.95 million and a PE ratio of -23.93. The company has a debt-to-equity ratio of 12.92, a current ratio of 3.26 and a quick ratio of 2.07.

EnWave Company Profile (Get Rating)

EnWave Corporation designs, constructs, markets, licenses, installs, and sells vacuum-microwave machinery for the food, cannabis, and biomaterial dehydration industries in Canada and the United States. It offers radiant energy vacuum (REV) dehydration platforms, such as nutraREV and quantaREV to dehydrate fruits, vegetables, herbs, dairy products, ready-to-eat meals, instant baked goods, cannabis products, nutraceuticals, pharmaceuticals, and meats and seafood.

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