VerticalScope (TSE:FORA) Shares Down 0.7% - Here's Why

VerticalScope Holdings Inc. (TSE:FORA - Get Free Report) shares traded down 0.7% during trading on Wednesday . The company traded as low as C$3.99 and last traded at C$3.99. 22,150 shares were traded during mid-day trading, a decline of 63% from the average session volume of 60,460 shares. The stock had previously closed at C$4.02.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. 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. Canaccord Genuity Group reduced 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 research note on Thursday, May 22nd. National Bankshares reduced their target price on shares of VerticalScope from C$9.00 to C$8.00 and set a "sector perform" rating for the company in a research note on Thursday, May 22nd. Royal Bank Of Canada lowered shares of VerticalScope from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from C$9.00 to C$6.00 in a research note on Thursday, May 22nd. Finally, Beacon Securities reduced their target price on shares of VerticalScope from C$19.50 to C$12.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$10.45.

VerticalScope Stock Performance

The stock's 50 day moving average price is C$4.21 and its 200 day moving average price is C$7.89. The company has a current ratio of 1.65, a quick ratio of 0.79 and a debt-to-equity ratio of 55.19. The company has a market capitalization of C$62.71 million, a price-to-earnings ratio of 22.41 and a beta of -0.02.

Insider Activity at VerticalScope

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