Colabor Group (TSE:GCL) Shares Down 11.6% - Here's What Happened

Key Points

• Colabor Group Inc.'s share price fell by 11.6%, trading as low as C$0.70 before settling at C$0.84 on the latest trading day.
• Trading volume surged by 309% compared to its average daily activity, with approximately 382,972 shares exchanged.
• The company has a market capitalization of C$83.65 million and aims to market and distribute food-related products across Canada.
• Colabor Group's current ratio stands at 1.62 and its debt-to-equity ratio is notably high at 153.61.

Colabor Group Inc. (TSE:GCL - Get Free Report)'s share price traded down 11.6% during mid-day trading on Friday . The stock traded as low as C$0.70 and last traded at C$0.84. 382,972 shares were traded during trading, an increase of 309% from the average session volume of 93,543 shares. The stock had previously closed at C$0.95.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James Financial cut their price target on Colabor Group from C$1.80 to C$1.50 and set an "outperform" rating for the company in a report on Monday. Desjardins dropped their target price on Colabor Group from C$1.75 to C$1.50 and set a "buy" rating for the company in a report on Monday.

Colabor Group Stock Down 1.2%

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 company has a market cap of C$81.68 million, a P/E ratio of 91.25, a PEG ratio of 0.61 and a beta of 0.83. The stock has a 50-day moving average of C$0.87 and a 200 day moving average of C$0.89.

Insider Activity at Colabor Group

In other Colabor Group news, insider Robert John Briscoe sold 100,000 shares of Colabor Group stock in a transaction dated Friday, July 25th. The stock was 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.

About Colabor Group

Colabor Group Inc, together with its subsidiaries, markets and distributes food and food-related products in Canada. It operates in two segments, Distribution and Wholesale. The Distribution segment offers frozen products, dry staples, dairy products, meat, seafood, fruits and vegetables, disposables, and sanitation products, as well as fish products.