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

Colabor Group Inc. (TSE:GCL) was down 81.1% during trading on Tuesday . The stock 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 equities research analysts have issued reports on GCL shares. Raymond James Financial upgraded shares of Colabor Group to a “hold” rating in a report on Monday, October 20th. Desjardins cut 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 report on Monday, October 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$1.00.

Colabor Group Stock Performance

The stock has a 50-day moving average price of C$0.27 and a 200 day moving average price of C$0.60. The company has a quick ratio of 0.76, a current ratio of 1.62 and a debt-to-equity ratio of 153.61. The firm has a market capitalization of C$3.57 million, a price-to-earnings ratio of -0.04, a P/E/G ratio of 0.61 and a beta of -0.32.

Colabor Group (TSE:GCL) last issued its quarterly earnings results on Friday, October 17th. The company reported C($0.73) earnings per share (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. On average, analysts forecast that Colabor Group Inc. will post 0.0199693 EPS for the current 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.