Colabor Group (TSE:GCL) Trading Down 58.7% – Here’s What Happened

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

Analysts Set New Price Targets

A number of brokerages have weighed in on GCL. Desjardins dropped 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 lowered 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 research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$1.50.

Colabor Group Stock Performance

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

In related 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 value of C$80,000.00. 25.04% of the stock is currently owned by company 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.