Colabor Group (TSE:GCL) Stock Price Down 58.7% – Here’s Why

Colabor Group Inc. (TSE:GCL)’s stock price traded down 58.7% during mid-day trading on Friday . The company traded as low as C$0.13 and last traded at C$0.26. 5,638,897 shares changed hands during trading, an increase of 4,566% from the average session volume of 120,844 shares. The stock had previously closed at C$0.63.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James Financial lowered their price objective on Colabor Group from C$1.80 to C$1.50 and set an “outperform” rating for the company in a research note on Monday, July 28th. Desjardins reduced their target price on Colabor Group from C$1.75 to C$1.50 and set a “buy” rating for the company in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Colabor Group has a consensus rating of “Buy” and an average target price of C$1.50.

Colabor Group Stock Down 58.7%

The company has a quick ratio of 0.76, a current ratio of 1.62 and a debt-to-equity ratio of 153.61. The company has a market cap of C$26.52 million, a P/E ratio of -6.50, a price-to-earnings-growth ratio of 0.61 and a beta of -0.17. The company has a fifty day moving average of C$0.67 and a 200 day moving average of C$0.80.

Insider Activity at Colabor Group

In related news, insider Robert John Briscoe sold 100,000 shares of Colabor Group stock in a transaction on Friday, July 25th. The stock was sold at an average price of C$0.80, for a total value of C$80,000.00. 25.04% of the stock is owned by insiders.

About Colabor Group

Colabor Group Inc is a wholesaler and distributor of food and related products in Canada. The company operates in two segments Distribution and Wholesale segment. Its Distribution segment operations include the distribution of food products and related products in hotels, restaurants and institutions (HRI) and retail market.