StorageVault Canada (TSE:SVI) Shares Cross Below 50-Day Moving Average - What's Next?

Key Points

• Shares slipped below their 50-day moving average: StorageVault Canada traded at C$4.16, below the C$4.19 average, and also below its 200-day average of C$4.51.
• Analysts remain broadly positive: Six analysts rate the stock Buy, with an average price target of C$5.52, although several recently lowered their targets.
• Latest results showed a loss: The company reported quarterly EPS of -C$0.02 on revenue of C$94.24 million; insiders bought 155,511 shares worth about C$628,721 over the last quarter.

StorageVault Canada Inc. (TSE:SVI - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of C$4.19 and traded as low as C$4.16. StorageVault Canada shares last traded at C$4.16, with a volume of 137,462 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. National Bank Financial reduced their target price on StorageVault Canada from C$6.50 to C$6.00 and set an "outperform" rating for the company in a research note on Wednesday, October 21st. Royal Bank Of Canada lifted their price objective on shares of StorageVault Canada from C$6.00 to C$6.25 and gave the stock an "outperform" rating in a report on Friday, July 24th. Desjardins lowered their target price on shares of StorageVault Canada from C$6.00 to C$5.25 and set a "buy" rating for the company in a research note on Friday, October 23rd. Canaccord Genuity Group lowered their target price on shares of StorageVault Canada from C$5.75 to C$5.25 and set a "buy" rating for the company in a research note on Friday, October 23rd. Finally, Raymond James Financial cut shares of StorageVault Canada from a "strong-buy" rating to a "moderate buy" rating and dropped their target price for the stock from C$5.75 to C$5.25 in a report on Friday, October 2nd. Six equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of C$5.52.

StorageVault Canada Price Performance

The company has a market cap of C$1.52 billion, a P/E ratio of -36.17 and a beta of 0.76. The company has a fifty day simple moving average of C$4.19 and a 200-day simple moving average of C$4.51.

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

Insider Transactions at StorageVault Canada

In related news, insider Access Self Storage Inc. bought 103,987 shares of the business's stock in a transaction on Thursday, October 15th. The stock was bought at an average price of C$3.99 per share, for a total transaction of C$414,908.13. Following the transaction, the insider directly owned 137,095,992 shares in the company, valued at C$547,013,008.08. This represents a 0.08% increase in their ownership of the stock. Also, insider Storagevault Canada Inc. acquired 10,000 shares of StorageVault Canada stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average cost of C$4.13 per share, with a total value of C$41,300.00. Following the transaction, the insider owned 20,000 shares of the company's stock, valued at approximately C$82,600. The trade was a 100.00% increase in their position. Insiders acquired a total of 155,511 shares of company stock valued at $628,721 over the last quarter. Company 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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