VerticalScope (TSE:FORA) Rating Lowered to “Sector Perform” at Royal Bank of Canada

VerticalScope (TSE:FORA) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday,BayStreet.CA reports. They currently have a C$6.00 price target on the stock, down from their previous price target of C$9.00. Royal Bank of Canada’s price objective indicates a potential upside of 50.00% from the stock’s current price.

A number of other research firms have also recently commented on FORA. Raymond James decreased their price objective on VerticalScope from C$14.50 to C$9.00 in a report on Wednesday, April 9th. Cormark upped their price objective on VerticalScope from C$14.00 to C$19.00 in a research report on Friday, March 14th. National Bankshares cut their price target on VerticalScope from C$9.00 to C$8.00 and set a “sector perform” rating on the stock in a research report on Thursday. Beacon Securities cut their price objective on shares of VerticalScope from C$19.50 to C$12.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Canaccord Genuity Group dropped their price objective on VerticalScope from C$10.00 to C$6.00 and set a “speculative buy” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, VerticalScope has an average rating of “Hold” and a consensus price target of C$10.45.

VerticalScope Stock Down 5.9%

FORA opened at C$4.00 on Thursday. The company has a 50-day moving average price of C$5.98 and a 200 day moving average price of C$9.21. The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 55.19. The company has a market cap of C$63.02 million, a PE ratio of 22.52 and a beta of -0.02. VerticalScope has a twelve month low of C$3.97 and a twelve month high of C$14.75.

Insider Buying and Selling

In other VerticalScope news, Director Rob Laidlaw purchased 61,225 shares of the business’s stock in a transaction dated Friday, April 11th. The shares were acquired at an average price of C$4.90 per share, for a total transaction of C$300,002.50. Insiders have purchased 62,000 shares of company stock worth $303,871 in the last three months. 37.10% of the stock is currently owned by insiders.

About VerticalScope

VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high-consumer spending categories. VerticalScope’s mission is to enable people with common interests to connect, explore their passions and share knowledge about the things they love.