Goodfood Market (TSE:FOOD) Trading 1.9% Higher – Here’s Why

Goodfood Market Corp. (TSE:FOOD) rose 1.9% during mid-day trading on Tuesday . The stock traded as high as C$0.29 and last traded at C$0.27. Approximately 271,608 shares traded hands during mid-day trading, an increase of 117% from the average daily volume of 125,018 shares. The stock had previously closed at C$0.27.

Wall Street Analysts Forecast Growth

Separately, Desjardins cut their target price on Goodfood Market from C$0.30 to C$0.25 and set a “hold” rating on the stock in a research note on Friday, November 28th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Goodfood Market has a consensus rating of “Hold” and an average target price of C$0.23.

Goodfood Market Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.77 and a debt-to-equity ratio of -212.01. The company has a market capitalization of C$26.69 million, a PE ratio of -2.70 and a beta of 1.57. The firm’s 50-day simple moving average is C$0.30 and its 200-day simple moving average is C$0.27.

Goodfood Market (TSE:FOOD) last posted its quarterly earnings results on Tuesday, January 20th. The company reported C($0.03) earnings per share for the quarter. The company had revenue of C$27.54 million for the quarter. Goodfood Market had a negative net margin of 2.14% and a positive return on equity of 12.53%. On average, research analysts predict that Goodfood Market Corp. will post -0.24 earnings per share for the current year.

Insider Buying and Selling at Goodfood Market

In other news, Director John Khabbaz purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were purchased at an average price of C$0.32 per share, for a total transaction of C$32,000.00. Following the completion of the purchase, the director owned 7,900,000 shares in the company, valued at approximately C$2,528,000. This represents a 1.28% increase in their position. Also, insider Phoenician Capital Llc acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was purchased at an average price of C$0.32 per share, with a total value of C$32,000.00. Following the completion of the acquisition, the insider directly owned 7,900,000 shares of the company’s stock, valued at C$2,528,000. This represents a 1.28% increase in their ownership of the stock. Insiders acquired a total of 300,000 shares of company stock valued at $98,000 over the last quarter. Company insiders own 23.16% of the company’s stock.

Goodfood Market Company Profile

Goodfood is a leading online grocery company in Canada, delivering fresh meal solutions and groceries that make it easy for members to enjoy delicious meals at home every day. Goodfood’s mission is to make the impossible come true, from farm to kitchen, by enabling members to complete their weekly meal planning and grocery shopping in minutes. Goodfood members have access to a unique selection of products and exclusive pricing made possible by its world class direct-to-consumer fulfilment ecosystem that eliminates waste and retail overhead.