Colabor Group (TSE:GCL) Shares Down 58.7% – Here’s Why

Colabor Group Inc. (TSE:GCL) shares traded down 58.7% during mid-day trading on Saturday . The company traded as low as C$0.13 and last traded at C$0.26. 5,638,897 shares traded 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GCL. Desjardins lowered their target price on shares of 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 reduced their price target on shares of Colabor Group from C$1.80 to C$1.50 and set an “outperform” rating on the stock in a report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$1.50.

Colabor Group Stock Down 58.7%

The business has a 50-day moving average price of C$0.67 and a 200 day moving average price of C$0.80. The company has a current ratio of 1.62, a quick ratio of 0.76 and a debt-to-equity ratio of 153.61. The stock 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.

Insider Activity at Colabor Group

In other news, insider Robert John Briscoe sold 100,000 shares of the business’s stock in a transaction dated 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 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.