VerticalScope (TSE:FORA) Downgraded by CIBC

VerticalScope (TSE:FORA) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, BayStreet.CA reports. They presently have a C$9.00 price target on the stock, down from their prior price target of C$12.00. CIBC’s price objective would indicate a potential upside of 12.64% from the company’s previous close.

Separately, TD Securities lifted their price target on VerticalScope from C$15.00 to C$16.00 in a research report on Friday, August 9th.

VerticalScope Stock Down 3.3 %

FORA traded down C$0.27 on Tuesday, reaching C$7.99. The company’s stock had a trading volume of 26,131 shares, compared to its average volume of 21,285. The stock has a 50 day moving average of C$8.73 and a two-hundred day moving average of C$8.59. VerticalScope has a fifty-two week low of C$4.00 and a fifty-two week high of C$11.00. The company has a quick ratio of 0.79, a current ratio of 1.80 and a debt-to-equity ratio of 63.66. The company has a market capitalization of C$148.77 million, a price-to-earnings ratio of 114.29 and a beta of -0.02.

Insider Activity

In related news, Director Rob Laidlaw sold 50,000 shares of VerticalScope stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of C$9.00, for a total transaction of C$450,000.00. In related news, Senior Officer Christopher Michael Goodridge bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were acquired at an average cost of C$8.54 per share, with a total value of C$42,700.00. Also, Director Rob Laidlaw sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of C$9.00, for a total transaction of C$450,000.00. Insiders sold 79,900 shares of company stock valued at $727,906 in the last three months. 37.10% of the stock is currently owned by company insiders.

VerticalScope Company Profile

VerticalScope Holdings Inc, a technology company, operates a cloud-based digital community platform for online enthusiast communities in the United States, Canada, the United Kingdom, and internationally. The company provides digital advertising services comprising direct advertising campaigns serve primarily in original equipment manufacturers, retailers, and insurance providers; programmatic advertising which includes the monetization of display and video impressions, and private marketplace and programmatic guaranteed advertising; and custom content solutions that manages and produces branded content for advertisers, including product reviews, articles, e-mail features, and short videos; and provides e-commerce solutions.