Colabor Group (TSE:GCL) Stock Price Down 58.7% - What's Next?

Key Points

• Colabor Group Inc. shares experienced a significant drop of 58.7%, trading at C$0.26 after previously closing at C$0.63.
• Analysts have set a new consensus target price of C$1.50, with Desjardins and Raymond James Financial both issuing a "buy" rating after lowering their price targets.
• Insider Robert John Briscoe sold 100,000 shares at an average price of C$0.80, indicating increased insider activity despite the stock's recent decline.

Colabor Group Inc. (TSE:GCL - Get Free Report)'s stock price was down 58.7% on Saturday . 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 Ratings Changes

A number of analysts recently weighed in on GCL shares. Raymond James Financial lowered 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. Desjardins decreased 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. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$1.50.

Colabor Group Stock Down 58.7%

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

Insiders Place Their Bets

In related news, insider Robert John Briscoe sold 100,000 shares of the stock in a transaction that occurred 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. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.