StorageVault Canada (TSE:SVI) Hits New 1-Year Low - What's Next?

Key Points

• StorageVault Canada fell to a new 52-week low of C$4.02, below its 50-day and 200-day moving averages, with a market capitalization of approximately C$1.47 billion.
• Analysts remain broadly positive, with six Buy ratings and a consensus price target of C$5.52, although several firms recently lowered their targets to between C$5.15 and C$5.25.
• The company reported a quarterly loss of C$0.02 per share, C$94.24 million in revenue, a negative net margin, and a negative return on equity; meanwhile, insiders purchased 148,269 shares worth about C$599,536 over the past three months.

StorageVault Canada Inc. (TSE:SVI - Get Free Report) reached a new 52-week low on Friday. The stock traded as low as C$4.02 and last traded at C$4.02, with a volume of 90,216 shares changing hands. The stock had previously closed at C$4.09.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SVI shares. Canaccord Genuity Group reduced their price target on shares of StorageVault Canada from C$5.75 to C$5.25 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Raymond James Financial downgraded shares of StorageVault Canada from a "strong-buy" rating to a "moderate buy" rating and cut their target price for the stock from C$5.75 to C$5.25 in a research note on Friday, October 2nd. ATB Cormark Capital Markets cut their price objective on StorageVault Canada from C$6.00 to C$5.15 and set an "outperform" rating on the stock in a research report on Friday, October 23rd. Desjardins reduced their price objective on StorageVault Canada from C$6.00 to C$5.25 and set a "buy" rating on the stock in a research note on Friday, October 23rd. Finally, Royal Bank Of Canada lifted their target price on StorageVault Canada from C$6.00 to C$6.25 and gave the company an "outperform" rating in a report on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$5.52.

StorageVault Canada Trading Down 2.0%

The stock's fifty day moving average price is C$4.24 and its two-hundred day moving average price is C$4.55. The firm has a market capitalization of C$1.47 billion, a price-to-earnings ratio of -34.87 and a beta of 0.79.

StorageVault Canada (TSE:SVI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The company reported C($0.02) earnings per share for the quarter. The business had revenue of C$94.24 million during the quarter. StorageVault Canada had a negative net margin of 11.77% and a negative return on equity of 50.22%.

Insider Activity

In other StorageVault Canada news, insider Access Self Storage Inc. purchased 103,987 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was purchased at an average cost of C$3.99 per share, with a total value of C$414,908.13. Following the completion of the acquisition, the insider directly owned 137,095,992 shares of the company's stock, valued at C$547,013,008.08. This trade represents a 0.08% increase in their position. Also, insider Storagevault Canada Inc. purchased 10,000 shares of the company's stock in a transaction on Wednesday, September 30th. The stock was bought at an average price of C$4.13 per share, for a total transaction of C$41,300.00. Following the completion of the purchase, the insider directly owned 20,000 shares of the company's stock, valued at C$82,600. The trade was a 100.00% increase in their ownership of the stock. Insiders have bought a total of 148,269 shares of company stock worth $599,536 in the last three months. Corporate insiders own 38.49% of the company's stock.

About StorageVault Canada

StorageVault currently owns and operates 275 storage locations across Canada. StorageVault owns 243 of these locations plus over 5,000 portable storage units representing over 13.8 million rentable square feet on 802 acres of land. StorageVault also provides last mile storage and logistics solutions and professional records management services, such as document and media storage, imaging and shredding services.

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