VerticalScope (TSE:FORA) Stock Price Down 2.1% - Time to Sell?

Key Points

• VerticalScope Holdings Inc. (TSE:FORA) experienced a 2.1% decline in share price, trading at C$3.72 after closing at C$3.80, with a notable decrease in trading volume.
• Multiple analysts have revised their price targets for VerticalScope, with Royal Bank of Canada lowering their target from C$9.00 to C$6.00, and Beacon Securities from C$19.50 to C$12.00, indicating a trend of bearish sentiment.
• Company insider Christopher Michael Goodridge purchased 25,000 shares at C$4.00 each, totaling C$100,000, amidst a backdrop of 37.10% insider ownership of the stock.

Shares of VerticalScope Holdings Inc. (TSE:FORA - Get Free Report) dropped 2.1% on Monday . The stock traded as low as C$3.71 and last traded at C$3.72. Approximately 48,395 shares traded hands during trading, a decline of 13% from the average daily volume of 55,417 shares. The stock had previously closed at C$3.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada cut VerticalScope from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from C$9.00 to C$6.00 in a research note on Thursday, May 22nd. National Bankshares cut their price objective on shares of 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. CIBC cut their price objective on shares of VerticalScope from C$6.00 to C$5.00 in a research report on Thursday, May 22nd. TD Securities decreased their price target on shares of VerticalScope from C$6.00 to C$4.50 and set a "hold" rating on the stock in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group dropped their price objective on 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$10.45.

VerticalScope Price Performance

The firm has a market cap of C$57.51 million, a PE ratio of 20.55 and a beta of -0.02. The firm's fifty day simple moving average is C$4.03 and its two-hundred day simple moving average is C$7.04. The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 55.19.

Insider Activity at VerticalScope

In related news, Senior Officer Christopher Michael Goodridge bought 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was purchased 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 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.