Goodfood Market (TSE:FOOD) Trading Down 13% – Here’s Why

Goodfood Market Corp. (TSE:FOOD)’s stock price traded down 13% during trading on Friday . The stock traded as low as C$0.19 and last traded at C$0.20. 360,611 shares traded hands during mid-day trading, an increase of 259% from the average session volume of 100,452 shares. The stock had previously closed at C$0.23.

Analysts Set New Price Targets

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

Goodfood Market Stock Down 13.0%

The firm has a 50-day moving average of C$0.27 and a two-hundred day moving average of C$0.28. The stock has a market capitalization of C$19.77 million, a price-to-earnings ratio of -2.00 and a beta of 1.76. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of -197.23.

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

Insider Activity at Goodfood Market

In related news, Director John Khabbaz acquired 100,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were purchased at an average price of C$0.32 per share, for a total transaction of C$32,000.00. Following the purchase, the director owned 7,900,000 shares in the company, valued at C$2,528,000. This represents a 1.28% increase in their ownership of the stock. Also, insider Phoenician Capital Llc bought 100,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was bought at an average price of C$0.32 per share, with a total value of C$32,000.00. Following the transaction, the insider 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. Over the last 90 days, insiders have purchased 300,000 shares of company stock valued at $98,000. 23.16% of the stock is currently owned by corporate insiders.

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.