StorageVault Canada (TSE:SVI) Reaches New 12-Month Low - Here's What Happened

StorageVault Canada Inc. (TSE:SVI - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as C$3.53 and last traded at C$3.75, with a volume of 593809 shares. The stock had previously closed at C$3.66.

Analyst Ratings Changes

Several brokerages have weighed in on SVI. Raymond James upgraded shares of StorageVault Canada from a "hold" rating to a "moderate buy" rating in a research note on Friday, February 21st. Scotiabank cut their price target on StorageVault Canada from C$5.50 to C$5.25 in a research note on Thursday, January 30th. Canaccord Genuity Group raised StorageVault Canada from a "hold" rating to a "buy" rating and reduced their price target for the stock from C$5.00 to C$4.50 in a research report on Monday, February 24th. CIBC dropped their price objective on StorageVault Canada from C$5.00 to C$4.75 in a report on Monday, February 24th. Finally, Cibc World Mkts raised StorageVault Canada to a "hold" rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, StorageVault Canada currently has an average rating of "Moderate Buy" and an average target price of C$5.47.

StorageVault Canada Price Performance

The stock has a market cap of C$1.35 billion, a P/E ratio of -26.71 and a beta of 0.89. The business's fifty day moving average price is C$3.86 and its 200 day moving average price is C$4.05.

StorageVault Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.0029 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.01 annualized dividend and a dividend yield of 0.32%. StorageVault Canada's dividend payout ratio (DPR) is presently -7.28%.

Insider Activity at StorageVault Canada

In other StorageVault Canada news, insider StorageVault Canada Inc. bought 50,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of C$3.95 per share, for a total transaction of C$197,440.00. Insiders have bought a total of 85,200 shares of company stock valued at $336,629 in the last 90 days. 38.49% of the stock is owned by corporate insiders.

StorageVault Canada Company Profile

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company's property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations.