StorageVault Canada (TSE:SVI) Sets New 12-Month High - Here's What Happened

Key Points

• StorageVault Canada reached a new 52-week high, trading at C$5.19 with a recent close of C$5.17.
• Several analysts have upgraded their ratings and price targets for StorageVault Canada, with Desjardins setting a target at C$5.00 and TD Securities raising it to C$5.50.
• Insider activity shows significant selling, with a director selling 134,700 shares, reducing their ownership by 26.10% while insiders collectively sold 467,900 shares in the last 90 days.

StorageVault Canada Inc. (TSE:SVI - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$5.19 and last traded at C$5.17, with a volume of 182583 shares changing hands. The stock had previously closed at C$5.09.

Analysts Set New Price Targets

SVI has been the subject of several research reports. Desjardins upgraded shares of StorageVault Canada from a "hold" rating to a "buy" rating and raised their price objective for the company from C$4.25 to C$5.00 in a research report on Thursday, July 24th. TD Securities raised their price objective on shares of StorageVault Canada from C$5.00 to C$5.50 and gave the company a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets set a C$5.50 price objective on shares of StorageVault Canada and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Finally, Scotiabank raised their price objective on shares of StorageVault Canada from C$5.00 to C$5.50 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, StorageVault Canada presently has an average rating of "Moderate Buy" and a consensus price target of C$5.17.

StorageVault Canada Price Performance

The firm's fifty day simple moving average is C$4.74 and its 200 day simple moving average is C$4.22. The company has a market capitalization of C$1.89 billion, a price-to-earnings ratio of -61.55 and a beta of 0.83.

Insider Activity at StorageVault Canada

In related news, Director Alan Arthur Simpson sold 134,700 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of C$4.70, for a total transaction of C$633,090.00. Following the completion of the sale, the director directly owned 381,305 shares in the company, valued at approximately C$1,792,133.50. This trade represents a 26.10% decrease in their ownership of the stock. Insiders have sold 467,900 shares of company stock worth $2,204,719 in the last ninety days. Company insiders own 38.49% of the company's stock.

StorageVault Canada Company Profile

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company's property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations.

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