VerticalScope (TSE:FORA) Trading Down 6.9% – What’s Next?

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

Wall Street Analyst Weigh In

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

VerticalScope Stock Performance

The firm has a market capitalization of C$126.20 million, a price-to-earnings ratio of 45.10 and a beta of -0.02. 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 stock’s fifty day moving average is C$11.44 and its two-hundred day moving average is C$10.07.

Insider Activity

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

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.