StorageVault Canada (TSE:SVI) Shares Cross Below 50-Day Moving Average – What’s Next?

StorageVault Canada Inc. (TSE:SVI)’s share price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of C$4.19 and traded as low as C$4.16. StorageVault Canada shares last traded at C$4.16, with a volume of 137,462 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SVI shares. Royal Bank Of Canada increased their price objective on StorageVault Canada from C$6.00 to C$6.25 and gave the company an “outperform” rating in a research report on Friday, July 24th. National Bank Financial reduced their target price on shares of StorageVault Canada from C$6.50 to C$6.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Canaccord Genuity Group dropped their price target on StorageVault Canada from C$5.75 to C$5.25 and set a “buy” rating for the company in a report on Friday, October 23rd. Raymond James Financial lowered StorageVault Canada from a “strong-buy” rating to a “moderate buy” rating and lowered their target price for the company from C$5.75 to C$5.25 in a research note on Friday, October 2nd. Finally, Desjardins cut their price target on StorageVault Canada from C$6.00 to C$5.25 and set a “buy” rating for the company in a report on Friday, October 23rd. Six equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, StorageVault Canada presently has a consensus rating of “Buy” and an average target price of C$5.52.

StorageVault Canada Price Performance

The stock’s 50 day moving average is C$4.19 and its two-hundred day moving average is C$4.51. The firm has a market capitalization of C$1.52 billion, a P/E ratio of -36.17 and a beta of 0.76.

StorageVault Canada (TSE:SVI) last posted its quarterly earnings results on Wednesday, October 21st. The company reported C($0.02) earnings per share (EPS) for the quarter. StorageVault Canada had a negative return on equity of 50.22% and a negative net margin of 11.77%. The company had revenue of C$94.24 million during the quarter.

Insiders Place Their Bets

In other StorageVault Canada news, insider Storagevault Canada Inc. purchased 10,000 shares of the stock in a transaction on Wednesday, September 30th. The shares were purchased at an average cost of C$4.13 per share, for a total transaction of C$41,300.00. Following the purchase, the insider owned 20,000 shares of the company’s stock, valued at approximately C$82,600. This represents a 100.00% increase in their ownership of the stock. Also, insider Access Self Storage Inc. purchased 103,987 shares of the stock in a transaction on Thursday, October 15th. The shares were bought at an average cost of C$3.99 per share, for a total transaction of C$414,908.13. Following the transaction, the insider directly owned 137,095,992 shares in the company, valued at approximately C$547,013,008.08. The trade was a 0.08% increase in their ownership of the stock. In the last three months, insiders have purchased 155,511 shares of company stock worth $628,721. Company insiders own 38.49% of the company’s stock.

StorageVault Canada Company Profile

StorageVault currently owns and operates 275 storage locations across Canada. StorageVault owns 243 of these locations plus over 5,000 portable storage units representing over 13.8 million rentable square feet on 802 acres of land. StorageVault also provides last mile storage and logistics solutions and professional records management services, such as document and media storage, imaging and shredding services.