VerticalScope (TSE:FORA) Hits New 52-Week Low - Here's Why

Shares of VerticalScope Holdings Inc. (TSE:FORA - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$3.97 and last traded at C$4.00, with a volume of 6731 shares trading hands. The stock had previously closed at C$4.03.

Analyst Upgrades and Downgrades

FORA has been the topic of a number of recent analyst reports. Canaccord Genuity Group cut 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 report on Thursday, May 22nd. TD Securities lowered their price objective on shares of VerticalScope from C$6.00 to C$4.50 and set a "hold" rating on the stock in a research report on Thursday, May 22nd. Beacon Securities lowered their price objective on shares of VerticalScope from C$19.50 to C$12.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. CIBC lowered their price objective on shares of VerticalScope from C$6.00 to C$5.00 in a research report on Thursday, May 22nd. Finally, Cormark boosted their price objective on shares of VerticalScope from C$14.00 to C$19.00 in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, VerticalScope currently has an average rating of "Hold" and an average price target of C$10.45.

VerticalScope Price Performance

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 company has a market capitalization of C$66.33 million, a P/E ratio of 23.70 and a beta of -0.02. The company's 50-day simple moving average is C$5.46 and its 200 day simple moving average is C$9.08.

Insiders Place Their Bets

In other VerticalScope news, Director Rob Laidlaw bought 61,225 shares of the firm's stock in a transaction on Friday, April 11th. The stock was bought at an average cost of C$4.90 per share, with a total value of C$300,002.50. Insiders acquired 62,000 shares of company stock valued at $303,871 over the last ninety days. Corporate 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.