VerticalScope (TSE:FORA) Shares Down 2.7% - Here's Why

Key Points

• VerticalScope (TSE:FORA) shares fell by 2.7%, trading at C$3.27, with a considerable increase in trading volume, up 363% from the average daily volume.
• Analyst ratings for VerticalScope have been generally negative, with multiple firms lowering their price targets, resulting in a consensus rating of "Hold" and an average price target of C$10.15.
• Senior Officer Christopher Michael Goodridge purchased 25,000 shares at C$4.00 each, indicating insider confidence as insiders own 37.10% of the company's stock.

VerticalScope Holdings Inc. (TSE:FORA - Get Free Report)'s stock price traded down 2.7% during trading on Thursday . The stock traded as low as C$3.26 and last traded at C$3.27. 283,900 shares changed hands during trading, an increase of 363% from the average session volume of 61,264 shares. The stock had previously closed at C$3.36.

Analyst Ratings Changes

FORA has been the subject of a number of recent research reports. Royal Bank Of Canada downgraded shares of VerticalScope from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from C$9.00 to C$6.00 in a research note on Thursday, May 22nd. CIBC lowered their target price on shares of VerticalScope from C$6.00 to C$5.00 in a report on Thursday, May 22nd. Canaccord Genuity Group lowered their target price on shares of 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. National Bankshares lowered their target price on shares of VerticalScope from C$6.50 to C$5.50 and set a "sector perform" rating for the company in a report on Thursday, August 14th. Finally, TD Securities lowered their target price on shares of 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 analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, VerticalScope presently has an average rating of "Hold" and an average target price of C$10.15.

VerticalScope Stock Performance

The stock has a market capitalization of C$72.20 million, a P/E ratio of -21.00 and a beta of 0.14. The company has a debt-to-equity ratio of 55.19, a quick ratio of 0.79 and a current ratio of 1.65. The company's fifty day simple moving average is C$3.80 and its two-hundred day simple moving average is C$5.92.

Insiders Place Their Bets

In other VerticalScope news, Senior Officer Christopher Michael Goodridge acquired 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. 37.10% of the stock is owned by company 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.