Goodfood Market (TSE:FOOD) Trading Down 9% – Time to Sell?

Goodfood Market Corp. (TSE:FOOD)’s share price dropped 9% on Monday . The company traded as low as C$0.31 and last traded at C$0.31. Approximately 155,004 shares changed hands during mid-day trading, an increase of 165% from the average daily volume of 58,601 shares. The stock had previously closed at C$0.34.

Wall Street Analysts Forecast Growth

Separately, Desjardins cut their price target on Goodfood Market from C$0.30 to C$0.25 and set a “hold” rating on the stock in a research note on Friday, November 28th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$0.23.

Goodfood Market Trading Down 7.5%

The firm has a fifty day moving average price of C$0.27 and a 200 day moving average price of C$0.24. The company has a market cap of C$30.80 million, a price-to-earnings ratio of -3.44 and a beta of 1.98. The company has a debt-to-equity ratio of -212.01, a quick ratio of 0.77 and a current ratio of 0.98.

Goodfood Market (TSE:FOOD) last released its quarterly earnings data on Thursday, November 27th. The company reported C$0.05 earnings per share (EPS) for the quarter. Goodfood Market had a positive return on equity of 12.53% and a negative net margin of 2.14%.The company had revenue of C$25.03 million during the quarter. As a group, equities analysts predict that Goodfood Market Corp. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Goodfood Market news, insider Phoenician Capital Llc sold 155,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of C$0.29, for a total transaction of C$44,950.00. Following the transaction, the insider owned 8,368,400 shares in the company, valued at C$2,426,836. This represents a 1.82% decrease in their position. 23.16% of the stock is currently owned by corporate insiders.

Goodfood Market Company Profile

Goodfood is a leading online grocery company in Canada, delivering fresh meal solutions and groceries that make it easy for members to enjoy delicious meals at home every day. Goodfood’s mission is to make the impossible come true, from farm to kitchen, by enabling members to complete their weekly meal planning and grocery shopping in minutes. Goodfood members have access to a unique selection of products and exclusive pricing made possible by its world class direct-to-consumer fulfilment ecosystem that eliminates waste and retail overhead.