Colabor Group (TSE:GCL) Trading Down 81.1% – Here’s What Happened

Colabor Group Inc. (TSE:GCL)’s share price dropped 81.1% during mid-day trading on Monday . The company traded as low as C$0.04 and last traded at C$0.04. Approximately 8,595,235 shares were traded during mid-day trading, an increase of 4,304% from the average daily volume of 195,167 shares. The stock had previously closed at C$0.19.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James Financial upgraded Colabor Group to a “hold” rating in a research report on Monday, October 20th. Desjardins dropped their price target on Colabor Group from C$1.50 to C$0.50 and set a “buy” rating on the stock in a research report on Monday, October 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Colabor Group currently has an average rating of “Moderate Buy” and an average price target of C$1.00.

Colabor Group Stock Performance

The company has a market cap of C$3.57 million, a P/E ratio of -0.04, a PEG ratio of 0.61 and a beta of -0.32. The business’s 50 day simple moving average is C$0.27 and its 200 day simple moving average is C$0.60. The company has a current ratio of 1.62, a quick ratio of 0.76 and a debt-to-equity ratio of 153.61.

Colabor Group (TSE:GCL) last posted its quarterly earnings results on Friday, October 17th. The company reported C($0.73) earnings per share for the quarter. The business had revenue of C$212.47 million during the quarter. Colabor Group had a return on equity of 0.83% and a net margin of 0.14%. Sell-side analysts predict that Colabor Group Inc. will post 0.0199693 earnings per share for the current fiscal year.

Colabor Group Company Profile

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.