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

Key Points

• Colabor Group's shares plummeted 58.7% to trade at C$0.26, with over 5.6 million shares changing hands, a significant increase from its average daily volume.
• Analysts have downgraded the company's price target to C$1.50 while maintaining a consensus "Buy" rating, indicating cautious optimism amid recent stock volatility.
• Insider Robert John Briscoe sold 100,000 shares at C$0.80 shortly before the stock's drop, suggesting potential concerns from company insiders about future performance.

Colabor Group Inc. (TSE:GCL - Get Free Report) shares fell 58.7% on Friday . The company 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 Upgrades and Downgrades

GCL has been the topic of a number of recent analyst reports. Raymond James Financial lowered their price target on shares of Colabor Group from C$1.80 to C$1.50 and set an "outperform" rating on the stock in a report on Monday, July 28th. Desjardins decreased their price target on Colabor Group from C$1.75 to C$1.50 and set a "buy" rating on the stock in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$1.50.

Colabor Group Price Performance

The company has a 50 day moving average of C$0.67 and a 200 day moving average of C$0.80. The stock 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. The company has a quick ratio of 0.76, a current ratio of 1.62 and a debt-to-equity ratio of 153.61.

Insiders Place Their Bets

In other news, insider Robert John Briscoe sold 100,000 shares of the company'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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