VerticalScope Holdings Inc. (TSE:FORA) Receives Consensus Rating of “Hold” from Brokerages

VerticalScope Holdings Inc. (TSE:FORA) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$10.45.

A number of analysts recently commented on the stock. CIBC dropped their price target on shares of VerticalScope from C$6.00 to C$5.00 in a research note on Thursday. TD Securities dropped their target price on VerticalScope from C$6.00 to C$4.50 and set a “hold” rating on the stock in a research report on Thursday. Beacon Securities cut their price target on VerticalScope from C$19.50 to C$12.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Canaccord Genuity Group decreased their price objective on VerticalScope from C$10.00 to C$6.00 and set a “speculative buy” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada cut VerticalScope from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$9.00 to C$6.00 in a report on Thursday.

VerticalScope Price Performance

TSE FORA opened at C$4.00 on Friday. 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 company has a market cap of C$63.02 million, a PE ratio of 22.52 and a beta of -0.02. VerticalScope has a 52 week low of C$3.97 and a 52 week high of C$14.75. The firm’s 50-day simple moving average is C$5.98 and its two-hundred day simple moving average is C$9.21.

Insider Activity at VerticalScope

In other news, Director Rob Laidlaw purchased 61,225 shares of the stock in a transaction on Friday, April 11th. The shares were acquired at an average price of C$4.90 per share, for a total transaction of C$300,002.50. Over the last quarter, insiders acquired 62,000 shares of company stock valued at $303,871. Company insiders own 37.10% of the company’s stock.

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.