Goodfood Market (TSE:FOOD) Shares Down 40% – Here’s What Happened

Shares of Goodfood Market Corp. (TSE:FOOD) traded down 40% during trading on Wednesday . The stock traded as low as C$0.09 and last traded at C$0.09. Approximately 1,982,587 shares changed hands during trading, an increase of 1,449% from the average session volume of 128,010 shares. The stock had previously closed at C$0.15.

Wall Street Analysts Forecast Growth

Separately, Desjardins reduced their price objective on shares of Goodfood Market from C$0.25 to C$0.15 and set a “hold” rating for the company in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$0.15.

Goodfood Market Price Performance

The firm has a fifty day moving average of C$0.20 and a 200 day moving average of C$0.23. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of -140.43. The company has a market capitalization of C$7.96 million, a P/E ratio of -0.62 and a beta of 2.04.

Goodfood Market (TSE:FOOD) last posted its earnings results on Tuesday, April 21st. The company reported C($0.07) earnings per share (EPS) for the quarter. The company had revenue of C$22.51 million for the quarter. Goodfood Market had a negative net margin of 12.64% and a positive return on equity of 45.86%. On average, equities research analysts anticipate that Goodfood Market Corp. will post -0.24 EPS for the current year.

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.