Parkit Enterprise (CVE:PKT) Trading Down 17.9% – Time to Sell?

by · The Markets Daily

Parkit Enterprise Inc. (CVE:PKT – Get Free Report) was down 17.9% on Tuesday . The stock traded as low as C$0.55 and last traded at C$0.55. Approximately 169,401 shares traded hands during trading, an increase of 233% from the average daily volume of 50,874 shares. The stock had previously closed at C$0.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Raymond James lowered Parkit Enterprise from a “moderate buy” rating to a “hold” rating in a research note on Sunday, August 11th. Scotiabank decreased their price target on Parkit Enterprise from C$0.75 to C$0.60 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, Cormark decreased their price target on Parkit Enterprise from C$1.00 to C$0.80 in a research note on Friday, August 16th.

Get Our Latest Report on Parkit Enterprise

Parkit Enterprise Stock Performance

The company has a 50 day moving average of C$0.66 and a two-hundred day moving average of C$0.59. The company has a debt-to-equity ratio of 116.60, a quick ratio of 5.35 and a current ratio of 2.95. The stock has a market capitalization of C$149.69 million, a PE ratio of -33.50 and a beta of 1.97.

Insider Buying and Selling

In other news, Director Bradley Roy Dunkley bought 1,000,000 shares of Parkit Enterprise stock in a transaction dated Tuesday, October 1st. The stock was bought at an average price of C$0.70 per share, for a total transaction of C$699,800.00. Also, Director Robert Blair Tamblyn sold 60,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of C$0.67, for a total value of C$40,200.00. In the last 90 days, insiders acquired 1,036,000 shares of company stock valued at $723,080. 39.47% of the stock is owned by company insiders.

About Parkit Enterprise

(Get Free Report)

Parkit Enterprise is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. The firm has parking assets across various markets in the United States of America. The firm seeks to invest in the United States.

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