Colabor Group (TSE:GCL) Shares Down 58.7% - Here's What Happened

Key Points

• Colabor Group Inc. shares plummeted 58.7%, closing at C$0.26 after trading as low as C$0.13 during the day, with an unusual trading volume increase of 4,566% from its average.
• Analysts have revised their price targets downward, with Desjardins and Raymond James reducing their targets to C$1.50, while the stock maintains a consensus rating of "Buy."
• Insider Robert John Briscoe sold 100,000 shares at an average price of C$0.80, and insiders collectively hold 25.04% of the company’s stock.

Colabor Group Inc. (TSE:GCL - Get Free Report) shares dropped 58.7% on Friday . The company traded as low as C$0.13 and last traded at C$0.26. Approximately 5,638,897 shares traded hands during mid-day 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

GCL has been the subject of a number of research reports. Desjardins reduced their price target on shares of 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 reduced their price target 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$1.50.

Colabor Group Stock Down 58.7%

The business's fifty day moving average price is C$0.67 and its 200 day moving average price is C$0.80. 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 firm has a market capitalization of C$26.52 million, a PE ratio of -6.50, a PEG ratio of 0.61 and a beta of -0.17.

Insider Activity at Colabor Group

In other news, insider Robert John Briscoe sold 100,000 shares of the company's 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. Insiders own 25.04% of the company's stock.

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.

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