Colabor Group (TSE:GCL) Trading Down 58.7% - Here's Why

Key Points

• Colabor Group Inc. experienced a substantial decline in its stock price, dropping 58.7% to C$0.26, with trading volume increasing dramatically by 4,566% compared to the average daily volume.
• Analyst reports indicate mixed sentiment, with Desjardins and Raymond James lowering their target prices to C$1.50, while maintaining a "buy" and "outperform" rating respectively.
• Despite the stock's sharp decline, it currently holds an average rating of "Buy" with a consensus target price of C$1.50, indicating potential for future recovery.

Colabor Group Inc. (TSE:GCL - Get Free Report) shares fell 58.7% during trading 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 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 Ratings Changes

GCL has been the subject of a number of analyst reports. Raymond James Financial reduced 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 cut their target price 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 analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of C$1.50.

Colabor Group Stock Down 58.7%

The firm's 50-day simple moving average is C$0.67 and its 200-day simple moving average is C$0.80. The company has a debt-to-equity ratio of 153.61, a quick ratio of 0.76 and a current ratio of 1.62. The company has a market capitalization 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.

Insider Buying and Selling

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

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.

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