Goodfood Market (TSE:FOOD) Trading Down 13% – What’s Next?

Shares of Goodfood Market Corp. (TSE:FOOD) dropped 13% during mid-day trading on Friday . The company traded as low as C$0.19 and last traded at C$0.20. Approximately 360,611 shares were traded during trading, an increase of 259% from the average daily volume of 100,452 shares. The stock had previously closed at C$0.23.

Analyst Upgrades and Downgrades

Separately, Desjardins lowered their price target on Goodfood Market from C$0.30 to C$0.25 and set a “hold” rating on the stock in a report on Friday, November 28th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$0.23.

Goodfood Market Trading Down 13.0%

The stock has a market capitalization of C$19.77 million, a P/E ratio of -2.00 and a beta of 1.76. The business has a 50 day simple moving average of C$0.27 and a 200-day simple moving average of C$0.28. The company has a debt-to-equity ratio of -197.23, a quick ratio of 0.77 and a current ratio of 1.12.

Goodfood Market (TSE:FOOD) last posted its quarterly earnings data on Tuesday, January 20th. The company reported C($0.03) EPS for the quarter. The firm had revenue of C$27.54 million during the quarter. Goodfood Market had a positive return on equity of 32.72% and a negative net margin of 7.90%. On average, analysts predict that Goodfood Market Corp. will post -0.24 EPS for the current year.

Insider Activity

In other Goodfood Market news, Director John Khabbaz acquired 100,000 shares of Goodfood Market stock in a transaction dated Tuesday, December 23rd. The stock was bought at an average price of C$0.32 per share, for a total transaction of C$32,000.00. Following the transaction, the director owned 7,900,000 shares in the company, valued at approximately C$2,528,000. This trade represents a 1.28% increase in their position. Also, insider Phoenician Capital Llc acquired 100,000 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was acquired at an average cost of C$0.32 per share, for a total transaction of C$32,000.00. Following the purchase, the insider directly owned 7,900,000 shares in the company, valued at approximately C$2,528,000. The trade was a 1.28% increase in their ownership of the stock. Over the last quarter, insiders acquired 300,000 shares of company stock worth $98,000. 23.16% of the stock is owned by company insiders.

About Goodfood Market

Goodfood (TSX: FOOD) is a leading meal solutions brand in Canada, delivering fresh meals and add-ons that make it easy for customers from across Canada to enjoy delicious meals at home every day. The Goodfood mission is to create experiences that spark joy and help our community live longer on a healthier planet. Goodfood customers have access to uniquely fresh and delicious products, as well as exclusive pricing, made possible by its exceptional culinary team and direct-to-consumer infrastructures and technology.