Parkit Enterprise (CVE:PKT) Trading Down 4.5% – What’s Next?

Shares of Parkit Enterprise Inc. (CVE:PKT) fell 4.5% during mid-day trading on Tuesday . The stock traded as low as C$0.64 and last traded at C$0.64. 1,000 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 50,050 shares. The stock had previously closed at C$0.67.

Analyst Ratings Changes

Several brokerages recently issued reports on PKT. Cormark dropped their price target on Parkit Enterprise from C$1.00 to C$0.80 in a research report on Friday, August 16th. Scotiabank decreased their price target on Parkit Enterprise from C$0.75 to C$0.60 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Finally, Raymond James downgraded Parkit Enterprise from a “moderate buy” rating to a “hold” rating in a research report on Sunday, August 11th.

Parkit Enterprise Stock Performance

The firm has a market capitalization of C$138.52 million, a price-to-earnings ratio of -31.00 and a beta of 1.97. The company has a debt-to-equity ratio of 116.60, a quick ratio of 5.35 and a current ratio of 2.95. The business has a fifty day moving average price of C$0.64 and a 200 day moving average price of C$0.59.

Insider Transactions at Parkit Enterprise

In other Parkit Enterprise news, Director Bradley Roy Dunkley purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average cost of C$0.70 per share, with a total value of C$699,800.00. In other Parkit Enterprise news, Director Bradley Roy Dunkley purchased 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average cost of C$0.70 per share, with a total value of C$699,800.00. Also, Director Robert Blair Tamblyn sold 60,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of C$0.67, for a total transaction of C$40,200.00. Insiders bought a total of 1,036,000 shares of company stock worth $723,080 in the last ninety days. Insiders own 39.47% of the company’s stock.

About Parkit Enterprise

Parkit Enterprise is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. The firm has parking assets across various markets in the United States of America. The firm seeks to invest in the United States.