StorageVault Canada (TSE:SVI) Reaches New 52-Week Low – Time to Sell?

Shares of StorageVault Canada Inc. (TSE:SVI) reached a new 52-week low on Friday. The stock traded as low as C$4.02 and last traded at C$4.02, with a volume of 90,216 shares trading hands. The stock had previously closed at C$4.09.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of StorageVault Canada from C$5.75 to C$5.25 and set a “buy” rating for the company in a research note on Friday, October 23rd. Raymond James Financial downgraded shares of StorageVault Canada from a “strong-buy” rating to a “moderate buy” rating and cut their target price for the company from C$5.75 to C$5.25 in a research report on Friday, October 2nd. Royal Bank Of Canada raised their target price on shares of StorageVault Canada from C$6.00 to C$6.25 and gave the company an “outperform” rating in a research report on Friday, July 24th. Desjardins reduced their price target on shares of StorageVault Canada from C$6.00 to C$5.25 and set a “buy” rating for the company in a report on Friday, October 23rd. Finally, National Bank Financial lowered their price target on shares of StorageVault Canada from C$6.50 to C$6.00 and set an “outperform” rating for the company in a research report on Wednesday, October 21st. Six investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$5.52.

StorageVault Canada Stock Performance

The stock has a fifty day moving average price of C$4.23 and a 200-day moving average price of C$4.55. The firm has a market capitalization of C$1.47 billion, a PE ratio of -34.87 and a beta of 0.79.

StorageVault Canada (TSE:SVI) last released its quarterly earnings results on Wednesday, October 21st. The company reported C($0.02) EPS for the quarter. The company had revenue of C$94.24 million during the quarter. StorageVault Canada had a negative return on equity of 50.22% and a negative net margin of 11.77%.

Insider Activity

In related news, insider Access Self Storage Inc. bought 103,987 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were bought at an average price of C$3.99 per share, for a total transaction of C$414,908.13. Following the completion of the purchase, the insider directly owned 137,095,992 shares of the company’s stock, valued at approximately C$547,013,008.08. This trade represents a 0.08% increase in their ownership of the stock. Also, insider Storagevault Canada Inc. bought 10,000 shares of StorageVault Canada stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average price of C$4.21 per share, with a total value of C$42,100.00. Following the completion of the acquisition, the insider directly owned 10,000 shares of the company’s stock, valued at C$42,100. This represents a ∞ increase in their position. Insiders acquired 148,269 shares of company stock worth $599,536 in the last quarter. 38.49% of the stock is owned by insiders.

About StorageVault Canada

StorageVault currently owns and operates 275 storage locations across Canada. StorageVault owns 243 of these locations plus over 5,000 portable storage units representing over 13.8 million rentable square feet on 802 acres of land. StorageVault also provides last mile storage and logistics solutions and professional records management services, such as document and media storage, imaging and shredding services.