VerticalScope (TSE:FORA) Cut to "Hold" at TD Securities

VerticalScope (TSE:FORA - Get Free Report) was downgraded by investment analysts at TD Securities from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$6.00 price target on the stock, down from their prior price target of C$15.00. TD Securities' price objective points to a potential upside of 29.59% from the stock's current price.

A number of other brokerages have also recently weighed in on FORA. Raymond James reduced their price objective on VerticalScope from C$14.50 to C$9.00 in a research note on Wednesday, April 9th. Canaccord Genuity Group reduced their price objective on VerticalScope from C$17.00 to C$10.00 in a research note on Wednesday, April 9th. CIBC upped their price target on VerticalScope from C$10.00 to C$17.00 in a research note on Monday, February 10th. Cormark boosted their price objective on shares of VerticalScope from C$14.00 to C$19.00 in a research note on Friday, March 14th. Finally, National Bankshares lifted their target price on shares of VerticalScope from C$13.00 to C$15.00 and gave the company an "outperform" rating in a report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, VerticalScope currently has a consensus rating of "Moderate Buy" and a consensus target price of C$12.90.

VerticalScope Stock Down 4.5 %

FORA stock traded down C$0.22 during midday trading on Wednesday, reaching C$4.63. 112,017 shares of the company were exchanged, compared to its average volume of 78,560. The stock's 50-day simple moving average is C$10.60 and its 200 day simple moving average is C$9.95. VerticalScope has a 1-year low of C$4.50 and a 1-year high of C$14.75. The company has a debt-to-equity ratio of 55.19, a quick ratio of 0.79 and a current ratio of 1.65. The company has a market cap of C$72.95 million, a price-to-earnings ratio of 26.07 and a beta of -0.02.

Insider Buying and Selling

In related news, Senior Officer Brandon Seibel sold 12,500 shares of the stock in a transaction on Monday, January 20th. The stock was sold at an average price of C$11.00, for a total transaction of C$137,500.00. Also, Director Rob Laidlaw bought 61,225 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was purchased at an average cost of C$4.90 per share, with a total value of C$300,002.50. In the last three months, insiders have acquired 62,000 shares of company stock worth $303,871 and have sold 22,250 shares worth $259,820. Insiders own 37.10% of the company's stock.

VerticalScope Company Profile

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.