VerticalScope (TSE:FORA) Reaches New 52-Week Low - Here's What Happened

Key Points

• VerticalScope's stock has reached a new 52-week low of C$3.15, closing at C$3.22 after trading 47,801 shares.
• Multiple analysts have cut their price targets for VerticalScope, with Canaccord Genuity reducing theirs from C$10.00 to C$6.00, reflecting a negative outlook.
• Despite recent downgrades, the stock still has a consensus rating of "Hold" with an average target price of C$10.15 from MarketBeat data.

Shares of VerticalScope Holdings Inc. (TSE:FORA - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as C$3.15 and last traded at C$3.22, with a volume of 47801 shares trading hands. The stock had previously closed at C$3.30.

Analyst Ratings Changes

A number of research firms have recently weighed in on FORA. Canaccord Genuity Group cut their price target on VerticalScope from C$10.00 to C$6.00 and set a "speculative buy" rating on the stock in a research note on Thursday, May 22nd. Royal Bank Of Canada downgraded VerticalScope from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from C$9.00 to C$6.00 in a research note on Thursday, May 22nd. CIBC dropped their price objective on VerticalScope from C$6.00 to C$5.00 in a research note on Thursday, May 22nd. TD Securities dropped their price objective on VerticalScope from C$4.50 to C$4.00 and set a "hold" rating on the stock in a research note on Thursday, August 14th. Finally, National Bankshares dropped their price objective on VerticalScope from C$6.50 to C$5.50 and set a "sector perform" rating on the stock in a research note on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$10.15.

VerticalScope Price Performance

The company has a market cap of C$51.36 million, a P/E ratio of 18.35 and a beta of -0.02. The company has a fifty day moving average price of C$3.93 and a two-hundred day moving average price of C$6.54. The company has a debt-to-equity ratio of 55.19, a quick ratio of 0.79 and a current ratio of 1.65.

Insider Buying and Selling at VerticalScope

In related news, Senior Officer Christopher Michael Goodridge acquired 25,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of C$4.00 per share, for a total transaction of C$100,000.00. 37.10% of the stock is owned by insiders.

VerticalScope Company Profile

VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high-consumer spending categories. VerticalScope's mission is to enable people with common interests to connect, explore their passions and share knowledge about the things they love.

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