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

Colabor Group Inc. (TSE:GCL) traded down 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 equities analysts have weighed in on the stock. Desjardins lowered their price objective on shares of Colabor Group from C$1.75 to C$1.50 and set a “buy” rating on the stock in a research report on Monday, July 28th. Raymond James Financial lowered their price target on shares of Colabor Group from C$1.80 to C$1.50 and set an “outperform” rating on the stock in a report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$1.50.

Colabor Group Stock Performance

The company has a debt-to-equity ratio of 153.61, a current ratio of 1.62 and a quick ratio of 0.76. The firm has a market cap of C$26.52 million, a P/E ratio of -6.50, a PEG ratio of 0.61 and a beta of -0.17. The stock’s 50 day moving average is C$0.67 and its two-hundred day moving average is C$0.80.

Insider Activity at Colabor Group

In other news, insider Robert John Briscoe sold 100,000 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of C$0.80, for a total transaction of C$80,000.00. 25.04% of the stock is owned by company 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.