StorageVault Canada (TSE:SVI) Shares Down 1.8% – Here’s Why

StorageVault Canada Inc. (TSE:SVI)’s share price dropped 1.8% on Tuesday . The company traded as low as C$4.94 and last traded at C$4.95. Approximately 457,338 shares were traded during trading, an increase of 46% from the average daily volume of 312,194 shares. The stock had previously closed at C$5.04.

Analysts Set New Price Targets

SVI has been the subject of several analyst reports. TD Securities boosted their target price on StorageVault Canada from C$5.00 to C$5.50 and gave the stock a “buy” rating in a research note on Friday, July 25th. Scotiabank boosted their price objective on StorageVault Canada from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. BMO Capital Markets set a C$5.50 target price on shares of StorageVault Canada and gave the company an “outperform” rating in a report on Wednesday, August 27th. Finally, Desjardins upgraded shares of StorageVault Canada from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$4.25 to C$5.00 in a report on Thursday, July 24th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, StorageVault Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.17.

StorageVault Canada Trading Down 1.8%

The business has a fifty day moving average price of C$4.81 and a 200 day moving average price of C$4.26. The firm has a market cap of C$1.81 billion, a PE ratio of -58.93 and a beta of 0.82.

Insider Buying and Selling at StorageVault Canada

In related news, Director Alan Arthur Simpson sold 134,700 shares of StorageVault Canada stock in a transaction on Friday, August 22nd. The shares were sold at an average price of C$4.70, for a total transaction of C$633,090.00. Following the sale, the director directly owned 381,305 shares in the company, valued at C$1,792,133.50. This trade represents a 26.10% decrease in their position. In the last ninety days, insiders have sold 467,900 shares of company stock worth $2,204,719. 38.49% of the stock is currently owned by insiders.

About StorageVault Canada

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company’s property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations.