Colabor Group (TSE:GCL) Shares Down 81.1% – Here’s Why

Colabor Group Inc. (TSE:GCL) shares dropped 81.1% on Monday . The company traded as low as C$0.04 and last traded at C$0.04. Approximately 8,595,235 shares traded hands 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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Desjardins dropped their price objective on Colabor Group from C$1.50 to C$0.50 and set a “buy” rating on the stock in a research note on Monday, October 20th. Raymond James Financial raised shares of Colabor Group to a “hold” rating in a report on Monday, October 20th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$1.00.

Colabor Group Stock Down 81.1%

The business’s 50 day simple moving average is C$0.28 and its 200 day simple moving average is C$0.61. The company has a market capitalization of C$3.57 million, a PE ratio of -0.04, a price-to-earnings-growth ratio of 0.61 and a beta of -0.32. The company has a quick ratio of 0.76, a current ratio of 1.62 and a debt-to-equity ratio of 153.61.

Colabor Group (TSE:GCL) last posted 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 firm had revenue of C$212.47 million during the quarter. As a group, 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.