Colabor Group (TSE:GCL) Stock Price Down 14.3% – Here’s What Happened

Colabor Group Inc. (TSE:GCL) was down 14.3% during trading on Wednesday . The stock traded as low as C$0.03 and last traded at C$0.03. Approximately 529,641 shares traded hands during trading, an increase of 160% from the average daily volume of 203,814 shares. The stock had previously closed at C$0.04.

Analyst Ratings Changes

GCL has been the subject of several recent analyst reports. Raymond James Financial upgraded shares of Colabor Group to a “hold” rating in a research note on Monday, October 20th. Desjardins decreased their price objective on Colabor Group from C$1.50 to C$0.50 and set a “buy” rating for the company in a report on Monday, October 20th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Colabor Group has a consensus rating of “Moderate Buy” and an average target price of C$1.00.

Colabor Group Trading Down 14.3%

The stock’s fifty day simple moving average is C$0.26 and its 200-day simple moving average is C$0.60. The company has a debt-to-equity ratio of 153.61, a current ratio of 1.62 and a quick ratio of 0.76. The firm has a market cap of C$3.06 million, a PE ratio of -0.04, a PEG ratio of 0.61 and a beta of -0.32.

Colabor Group (TSE:GCL) last announced its quarterly earnings data on Friday, October 17th. The company reported C($0.73) earnings per share for the quarter. The company had revenue of C$212.47 million for the quarter. Colabor Group had a net margin of 0.14% and a return on equity of 0.83%. On average, sell-side analysts forecast that Colabor Group Inc. will post 0.0199693 earnings per share 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.