VerticalScope (TSE:FORA) Reaches New 52-Week Low on Analyst Downgrade

VerticalScope Holdings Inc. (TSE:FORA - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday after CIBC downgraded the stock from an outperform rating to a neutral rating. CIBC now has a C$6.00 price target on the stock, down from their previous price target of C$17.00. VerticalScope traded as low as C$4.80 and last traded at C$4.91, with a volume of 503801 shares trading hands. The stock had previously closed at C$7.61.

FORA has been the subject of several other reports. Cormark lifted their price objective on VerticalScope from C$14.00 to C$19.00 in a report on Friday, March 14th. Royal Bank of Canada lifted their price objective on VerticalScope from C$16.00 to C$17.00 in a research note on Thursday, January 30th. Raymond James dropped their price target on VerticalScope from C$14.50 to C$9.00 in a research note on Wednesday, April 9th. TD Securities cut shares of VerticalScope from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$15.00 to C$6.00 in a research report on Wednesday, April 9th. Finally, Beacon Securities reduced their price target on shares of VerticalScope from C$19.50 to C$12.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$12.90.

Insider Buying and Selling at VerticalScope

In other news, Director Rob Laidlaw sold 8,500 shares of VerticalScope stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of C$12.62, for a total value of C$107,270.00. Also, Senior Officer Brandon Seibel sold 12,500 shares of the firm's stock in a transaction that occurred on Monday, January 20th. The shares were sold at an average price of C$11.00, for a total transaction of C$137,500.00. In the last quarter, insiders acquired 62,000 shares of company stock worth $303,871 and sold 22,250 shares worth $259,820. Corporate insiders own 37.10% of the company's stock.

VerticalScope Trading Down 4.5 %

The company has a quick ratio of 0.79, a current ratio of 1.65 and a debt-to-equity ratio of 55.19. The firm has a market capitalization of C$72.95 million, a PE ratio of 26.07 and a beta of -0.02. The firm's 50-day simple moving average is C$10.60 and its 200-day simple moving average is C$9.95.

About VerticalScope

VerticalScope is a technology company that has built and operates a cloud-based digital platform for online enthusiast communities in high-consumer spending categories. VerticalScope's mission is to enable people with common interests to connect, explore their passions and share knowledge about the things they love.