VerticalScope (TSE:FORA) Trading Down 6.9% – Here’s Why

VerticalScope Holdings Inc. (TSE:FORA)’s stock price fell 6.9% on Friday . The company traded as low as C$7.75 and last traded at C$8.01. 133,066 shares changed hands during trading, an increase of 143% from the average session volume of 54,830 shares. The stock had previously closed at C$8.60.

Analyst Ratings Changes

A number of research analysts recently commented on the company. CIBC raised their price target on VerticalScope from C$10.00 to C$17.00 in a research report on Monday, February 10th. TD Securities boosted their target price on shares of VerticalScope from C$17.00 to C$18.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Raymond James increased their price target on shares of VerticalScope from C$13.00 to C$14.50 and gave the stock an “outperform” rating in a research report on Friday, March 14th. Royal Bank of Canada lifted their price objective on shares of VerticalScope from C$16.00 to C$17.00 in a research note on Thursday, January 30th. Finally, Cormark raised their target price on VerticalScope from C$14.00 to C$19.00 in a report on Friday, March 14th.

VerticalScope Price Performance

The business’s 50-day simple moving average is C$11.44 and its two-hundred day simple moving average is C$10.07. The stock has a market cap of C$126.20 million, a price-to-earnings ratio of 45.10 and a beta of -0.02. The company has a debt-to-equity ratio of 55.19, a current ratio of 1.65 and a quick ratio of 0.79.

Insider Activity at VerticalScope

In related news, Director Rob Laidlaw sold 3,300 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of C$10.76, for a total value of C$35,501.40. Also, Senior Officer Brandon Seibel sold 12,500 shares of the stock in a transaction on Monday, January 20th. The shares were sold at an average price of C$11.00, for a total value of C$137,500.00. Insiders have sold a total of 25,550 shares of company stock valued at $295,321 in the last 90 days. 37.10% of the stock is owned by corporate insiders.

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.