Colabor Group (TSE:GCL) Shares Down 58.7% - Time to Sell?

Key Points

• Colabor Group Inc. shares have dropped 58.7%, currently trading at C$0.26, significantly down from a previous close of C$0.63.
• Equities analysts have lowered their price targets for the company, with Raymond James and Desjardins both setting a new target of C$1.50 while maintaining a "Buy" and "Outperform" rating.
• Insider transactions have been recorded, including the sale of 100,000 shares by insider Robert John Briscoe at an average price of C$0.80.

Colabor Group Inc. (TSE:GCL - Get Free Report)'s stock price traded down 58.7% on Saturday . The stock traded as low as C$0.13 and last traded at C$0.26. 5,638,897 shares traded hands during mid-day trading, an increase of 4,566% from the average session volume of 120,844 shares. The stock had previously closed at C$0.63.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Desjardins cut their target price on Colabor Group from C$1.75 to C$1.50 and set a "buy" rating on the stock in a research note on Monday, July 28th. Raymond James Financial cut their target price on Colabor Group from C$1.80 to C$1.50 and set an "outperform" rating on the stock in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of C$1.50.

Colabor Group Stock Performance

The company has a market cap of C$26.52 million, a price-to-earnings ratio of -6.50, a price-to-earnings-growth ratio of 0.61 and a beta of -0.17. The company has a debt-to-equity ratio of 153.61, a current ratio of 1.62 and a quick ratio of 0.76. The stock has a 50-day moving average price of C$0.67 and a 200 day moving average price of C$0.80.

Insider Activity at Colabor Group

In other news, insider Robert John Briscoe sold 100,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of C$0.80, for a total transaction of C$80,000.00. 25.04% of the stock is currently owned by corporate 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.

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