VerticalScope (TSE:FORA) Reaches New 52-Week Low - Time to Sell?

Key Points

• VerticalScope Holdings Inc. (TSE:FORA) hit a new 52-week low at C$3.75, with a trading volume of 11,667 shares.
• Multiple analysts have downgraded their target prices for VerticalScope, with Canaccord Genuity reducing it from C$10.00 to C$6.00, and TD Securities lowering it from C$6.00 to C$4.50.
• Insider Christopher Michael Goodridge purchased 25,000 shares at an average price of C$4.00, indicating continued confidence in the company's future.

VerticalScope Holdings Inc. (TSE:FORA - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as C$3.75 and last traded at C$3.75, with a volume of 11667 shares trading hands. The stock had previously closed at C$3.76.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Canaccord Genuity Group lowered their target price on VerticalScope from C$10.00 to C$6.00 and set a "speculative buy" rating for the company in a report on Thursday, May 22nd. TD Securities lowered their target price on VerticalScope from C$6.00 to C$4.50 and set a "hold" rating for the company in a report on Thursday, May 22nd. Royal Bank Of Canada lowered VerticalScope from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from C$9.00 to C$6.00 in a report on Thursday, May 22nd. National Bankshares lowered their target price on VerticalScope from C$9.00 to C$8.00 and set a "sector perform" rating for the company in a report on Thursday, May 22nd. Finally, CIBC lowered their target price on VerticalScope from C$6.00 to C$5.00 in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$10.45.

VerticalScope Price Performance

The stock's fifty day moving average price is C$4.03 and its 200-day moving average price is C$7.09. The firm has a market cap of C$58.45 million, a price-to-earnings ratio of 20.89 and a beta of -0.02. The company has a current ratio of 1.65, a quick ratio of 0.79 and a debt-to-equity ratio of 55.19.

Insiders Place Their Bets

In other VerticalScope news, Senior Officer Christopher Michael Goodridge purchased 25,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of C$4.00 per share, for a total transaction of C$100,000.00. Company insiders own 37.10% of the company's stock.

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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