Alithya Group (TSE:ALYA) Trading Down 11.3% - Here's What Happened

Key Points

• Alithya Group shares fell 11.3% to C$1.10 in mid-day trading, reaching as low as C$1.05. Trading volume rose 178% above the average, with roughly 165,871 shares changing hands.
• Analyst sentiment remains broadly positive but price targets have been reduced by several firms. Four analysts rate the stock Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and a C$1.93 average price target.
• The company reported quarterly EPS of C$0.04 and revenue of C$105.05 million, but continued to post a negative net margin of 8.12% and negative return on equity of 24.36%.

Shares of Alithya Group Inc. (TSE:ALYA - Get Free Report) dropped 11.3% during mid-day trading on Thursday . The stock traded as low as C$1.05 and last traded at C$1.10. Approximately 165,871 shares traded hands during trading, an increase of 178% from the average daily volume of 59,565 shares. The stock had previously closed at C$1.24.

Wall Street Analyst Weigh In

ALYA has been the topic of several recent research reports. Ventum cut their price target on Alithya Group to C$2.00 and set a "buy" rating on the stock in a research note on Monday, June 15th. Scotiabank cut Alithya Group from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from C$2.00 to C$1.50 in a research note on Friday, April 24th. Desjardins dropped their target price on Alithya Group from C$1.75 to C$1.55 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Finally, ATB Cormark Capital Markets raised Alithya Group from a "sector perform" rating to an "outperform" rating and set a C$1.60 target price on the stock in a report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$1.93.

Alithya Group Price Performance

The firm has a fifty day moving average of C$1.07 and a 200 day moving average of C$1.29. The company has a market capitalization of C$106.44 million, a P/E ratio of -2.75, a P/E/G ratio of 2.38 and a beta of -0.71. The company has a current ratio of 1.25, a quick ratio of 1.32 and a debt-to-equity ratio of 88.81.

Alithya Group (TSE:ALYA - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported C$0.04 earnings per share (EPS) for the quarter. The business had revenue of C$105.05 million for the quarter. Alithya Group had a negative net margin of 8.12% and a negative return on equity of 24.36%. On average, equities research analysts anticipate that Alithya Group Inc. will post 0.0400733 EPS for the current year.

About Alithya Group

Alithya Group Inc is a leader in Strategy and digital transformation, with professionals in Canada, the us, and Europe. Its integrated offering is laid out as follows: Strategy, custom solutions, Microsoft solutions, and Oracle solutions. Clients entrust the company with their strategic projects across Banking, Investment and Insurance, Energy, Manufacturing, Retail and Distribution, Telecommunications, Transportation, Professional Services, Healthcare, and Government sectors. Geographically, it derives a majority of revenue from Canada.

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