Goodfood Market (TSE:FOOD) Trading 6.4% Higher – What’s Next?

Goodfood Market Corp. (TSE:FOOD) shares were up 6.4% during mid-day trading on Wednesday . The company traded as high as C$0.25 and last traded at C$0.25. Approximately 25,522 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 96,106 shares. The stock had previously closed at C$0.24.

Analyst Upgrades and Downgrades

Separately, Desjardins reduced their price objective on shares of Goodfood Market from C$0.30 to C$0.25 and set a “hold” rating for the company in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$0.23.

Goodfood Market Trading Up 6.4%

The firm has a market cap of C$24.71 million, a price-to-earnings ratio of -2.50 and a beta of 1.76. The business has a fifty day moving average of C$0.28 and a two-hundred day moving average of C$0.28. The company has a debt-to-equity ratio of -197.23, a quick ratio of 0.77 and a current ratio of 1.12.

Goodfood Market (TSE:FOOD) last issued its quarterly earnings data on Tuesday, January 20th. The company reported C($0.03) earnings per share (EPS) for the quarter. The firm had revenue of C$27.54 million for the quarter. Goodfood Market had a positive return on equity of 32.72% and a negative net margin of 7.90%. As a group, equities analysts expect that Goodfood Market Corp. will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Khabbaz purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was acquired at an average price of C$0.32 per share, with a total value of C$32,000.00. Following the purchase, the director directly owned 7,900,000 shares of the company’s stock, valued at C$2,528,000. This represents a 1.28% increase in their position. Also, insider Phoenician Capital Llc acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was acquired at an average price of C$0.32 per share, for a total transaction of C$32,000.00. Following the completion of the transaction, the insider directly owned 7,900,000 shares in the company, valued at approximately C$2,528,000. This represents a 1.28% increase in their ownership of the stock. In the last 90 days, insiders bought 300,000 shares of company stock valued at $98,000. Company insiders own 23.16% of the company’s stock.

Goodfood Market Company Profile

Goodfood (TSX: FOOD) is a leading meal solutions brand in Canada, delivering fresh meals and add-ons that make it easy for customers from across Canada to enjoy delicious meals at home every day. The Goodfood mission is to create experiences that spark joy and help our community live longer on a healthier planet. Goodfood customers have access to uniquely fresh and delicious products, as well as exclusive pricing, made possible by its exceptional culinary team and direct-to-consumer infrastructures and technology.