TeraGo Inc. (TSE:TGO) Cut to Hold at TD Securities
TeraGo Inc. (TSE:TGO) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Monday, StockTargetPrices.com reports. They currently have a C$5.50 price objective on the stock, down from their prior price objective of C$6.00. TD Securities’ price target indicates a potential upside of 17.02% from the company’s previous close.
Shares of TeraGo (TGO) traded down 5.32% on Monday, hitting $4.45. The company’s stock had a trading volume of 16,847 shares. TeraGo has a one year low of $3.55 and a one year high of $5.35. The stock has a 50-day moving average price of $4.98 and a 200 day moving average price of $4.43. The firm’s market cap is $63.55 million.
In related news, insider Ron Perrotta bought 5,500 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was purchased at an average price of C$4.70 per share, for a total transaction of C$25,850.00. Insiders purchased a total of 34,181 shares of company stock valued at $99,133 in the last quarter.
TeraGo Company Profile
Terago Inc, through its subsidiaries, provides businesses across Canada with data and voice communications services, data center colocation and hosting services through its approximately seven data centers, as well as cloud Infrastructure as a Service (IaaS) computing and storage solutions. With respect to its data and voice communications services, the Company owns and operates a carrier-grade, MultiProtocol Label Switching (MPLS)-enabled fixed wireless, Internet protocol (IP) communications network in Canada targeting businesses that require Internet access and data connectivity services.
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