VerticalScope (TSE:FORA) Reaches New 12-Month 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.

VerticalScope Holdings Inc. (TSE:FORA - Get Free Report) shares 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. The stock had previously closed at C$3.30.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FORA. Royal Bank Of Canada downgraded shares of VerticalScope from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from C$9.00 to C$6.00 in a research note on Thursday, May 22nd. Canaccord Genuity Group reduced their price target on shares of VerticalScope from C$10.00 to C$6.00 and set a "speculative buy" rating on the stock in a research report on Thursday, May 22nd. National Bankshares reduced their price target on shares of VerticalScope from C$6.50 to C$5.50 and set a "sector perform" rating on the stock in a research report on Thursday, August 14th. CIBC reduced their price target on shares of VerticalScope from C$6.00 to C$5.00 in a research report on Thursday, May 22nd. Finally, TD Securities dropped their price objective on VerticalScope from C$4.50 to C$4.00 and set a "hold" rating for the company in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$10.15.

VerticalScope Trading Up 4.0%

The company has a fifty day simple moving average of C$3.87 and a two-hundred day simple moving average of C$6.33. The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 55.19. The stock has a market capitalization of C$53.88 million, a P/E ratio of 19.25 and a beta of -0.02.

Insider Transactions at VerticalScope

In other VerticalScope news, Senior Officer Christopher Michael Goodridge bought 25,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was acquired at an average cost of C$4.00 per share, with a total value of C$100,000.00. Insiders own 37.10% of the company's stock.

About VerticalScope

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.