Parkit Enterprise (CVE:PKT) Stock Price Down 17.9% – What’s Next?

Parkit Enterprise Inc. (CVE:PKT)’s share price traded down 17.9% during trading on Tuesday . The company traded as low as C$0.55 and last traded at C$0.55. 169,401 shares were traded during mid-day trading, an increase of 233% from the average session volume of 50,874 shares. The stock had previously closed at C$0.67.

Analyst Upgrades and Downgrades

PKT has been the subject of several recent research reports. Scotiabank lowered their target price on shares of 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. Raymond James lowered shares of Parkit Enterprise from a “moderate buy” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, Cormark decreased their target price on Parkit Enterprise from C$1.00 to C$0.80 in a research note on Friday, August 16th.

Parkit Enterprise Trading Up 1.5 %

The firm’s fifty day moving average price is C$0.66 and its 200-day moving average price is C$0.59. The company has a market cap of C$149.69 million, a price-to-earnings ratio of -33.00 and a beta of 1.97. The company has a debt-to-equity ratio of 116.60, a current ratio of 2.95 and a quick ratio of 5.35.

Insider Activity at Parkit Enterprise

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

Parkit Enterprise Company Profile

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.