Goodfood Market (TSE:FOOD) Stock Price Down 40% – Here’s What Happened

Goodfood Market Corp. (TSE:FOOD) shares dropped 40% on Wednesday . The company traded as low as C$0.09 and last traded at C$0.09. 1,982,587 shares traded hands during trading, an increase of 1,449% from the average daily volume of 128,010 shares. The stock had previously closed at C$0.15.

Wall Street Analysts Forecast Growth

Separately, Desjardins lowered their target price on Goodfood Market from C$0.25 to C$0.15 and set a “hold” rating on the stock in a report on Thursday, April 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Goodfood Market has a consensus rating of “Hold” and an average target price of C$0.15.

Goodfood Market Stock Down 46.7%

The company has a debt-to-equity ratio of -140.43, a current ratio of 0.82 and a quick ratio of 0.77. The firm has a market capitalization of C$7.96 million, a P/E ratio of -0.62 and a beta of 2.04. The company’s 50-day simple moving average is C$0.20 and its two-hundred day simple moving average is C$0.23.

Goodfood Market (TSE:FOOD) last issued its quarterly earnings results on Tuesday, April 21st. The company reported C($0.07) earnings per share for the quarter. Goodfood Market had a positive return on equity of 45.86% and a negative net margin of 12.64%.The business had revenue of C$22.51 million for the quarter. As a group, research analysts expect that Goodfood Market Corp. will post -0.24 earnings per share for the current year.

About Goodfood Market

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.