Colabor Group (TSE:GCL) Shares Down 70.3% – Here’s What Happened

Colabor Group Inc. (TSE:GCL) shares traded down 70.3% during mid-day trading on Monday . The stock traded as low as C$0.04 and last traded at C$0.06. 1,873,775 shares traded hands during mid-day trading, an increase of 1,072% from the average session volume of 159,931 shares. The stock had previously closed at C$0.19.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GCL shares. Desjardins cut their price target on 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 raised shares of Colabor Group to a “hold” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$1.00.

Colabor Group Price Performance

The stock has a market capitalization of C$4.08 million, a price-to-earnings ratio of -0.05, a PEG ratio of 0.61 and a beta of -0.32. The business’s fifty day moving average price is C$0.28 and its 200-day moving average price is C$0.61. The company has a debt-to-equity ratio of 153.61, a current ratio of 1.62 and a quick ratio of 0.76.

Colabor Group (TSE:GCL) last issued its quarterly earnings data on Friday, October 17th. The company reported C($0.73) EPS for the quarter. Colabor Group had a return on equity of 0.83% and a net margin of 0.14%.The company had revenue of C$212.47 million during the quarter. On average, research analysts forecast 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.