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

Colabor Group Inc. (TSE:GCL)’s stock price dropped 58.7% on Saturday . The stock traded as low as C$0.13 and last traded at C$0.26. Approximately 5,638,897 shares changed hands during trading, an increase of 4,566% from the average daily volume of 120,844 shares. The stock had previously closed at C$0.63.

Wall Street Analysts Forecast Growth

GCL has been the subject of several recent research reports. Raymond James Financial dropped their target price 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 dropped 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 report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Colabor Group has a consensus rating of “Buy” and a consensus price target of C$1.50.

Colabor Group Trading Down 58.7%

The firm has a market capitalization of C$26.52 million, a PE ratio of -6.50, a P/E/G ratio of 0.61 and a beta of -0.17. The company has a quick ratio of 0.76, a current ratio of 1.62 and a debt-to-equity ratio of 153.61. The business’s fifty day moving average price is C$0.67 and its 200 day moving average price is C$0.80.

Insider Activity at Colabor Group

In other news, insider Robert John Briscoe sold 100,000 shares of Colabor Group stock in a transaction dated Friday, July 25th. The shares were sold at an average price of C$0.80, for a total transaction of C$80,000.00. 25.04% of the stock is currently owned by company insiders.

About Colabor Group

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.