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

Colabor Group Inc. (TSE:GCL)’s share price fell 58.7% on Saturday . The stock traded as low as C$0.13 and last traded at C$0.26. 5,638,897 shares traded 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.

Wall Street Analyst Weigh In

Several research firms have weighed in on GCL. Raymond James Financial dropped their price target on Colabor Group from C$1.80 to C$1.50 and set an “outperform” rating on the stock in a research note on Monday, July 28th. Desjardins dropped their price target on Colabor Group from C$1.75 to C$1.50 and set a “buy” rating on the stock in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target 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 stock has a market cap of C$26.52 million, a PE ratio of -6.50, a P/E/G ratio of 0.61 and a beta of -0.17. The business has a 50 day moving average price of C$0.67 and a 200 day moving average price of C$0.80.

Insider Activity at Colabor Group

In other news, insider Robert John Briscoe sold 100,000 shares of the company’s stock in a transaction dated 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.