Colabor Group (TSE:GCL) Shares Down 81.1% – Here’s What Happened

Colabor Group Inc. (TSE:GCL) was down 81.1% during trading on Monday . The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 8,595,235 shares were traded during mid-day trading, an increase of 4,304% from the average daily volume of 195,167 shares. The stock had previously closed at C$0.19.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GCL. Desjardins cut their target price on shares of Colabor Group from C$1.50 to C$0.50 and set a “buy” rating on the stock in a report on Monday, October 20th. Raymond James Financial upgraded Colabor Group to a “hold” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Colabor Group has a consensus rating of “Moderate Buy” and a consensus target price of C$1.00.

Colabor Group Price Performance

The business’s 50-day simple moving average is C$0.27 and its 200 day simple moving average is C$0.60. The company has a market capitalization of C$3.57 million, a P/E ratio of -0.04, a P/E/G ratio of 0.61 and a beta of -0.32. The company has a current ratio of 1.62, a quick ratio of 0.76 and a debt-to-equity ratio of 153.61.

Colabor Group (TSE:GCL) last posted its quarterly earnings results on Friday, October 17th. The company reported C($0.73) earnings per share (EPS) for the quarter. The company had revenue of C$212.47 million during the quarter. Colabor Group had a net margin of 0.14% and a return on equity of 0.83%. As a group, sell-side analysts anticipate that Colabor Group Inc. will post 0.0199693 EPS for the current year.

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.