Colabor Group (TSE:GCL) Trading Down 58.7% – Time to Sell?

Colabor Group Inc. (TSE:GCL) shares were 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. 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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GCL shares. Desjardins reduced their target price on Colabor Group from C$1.75 to C$1.50 and set a “buy” rating for the company in a research report on Monday, July 28th. Raymond James Financial dropped 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 note on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Colabor Group currently has a consensus rating of “Buy” and an average target price of C$1.50.

Colabor Group Price 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 firm has a market cap 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. The company has a 50-day moving average of C$0.67 and a 200 day moving average of C$0.80.

Insider Activity

In other news, insider Robert John Briscoe sold 100,000 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of C$0.80, for a total value of C$80,000.00. Insiders own 25.04% of the company’s stock.

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.