Goodfood Market (TSE:FOOD) Trading 6.4% Higher – Should You Buy?

Shares of Goodfood Market Corp. (TSE:FOOD) rose 6.4% during trading on Wednesday . The stock traded as high as C$0.25 and last traded at C$0.25. Approximately 25,522 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 96,106 shares. The stock had previously closed at C$0.24.

Analyst Ratings Changes

Separately, Desjardins cut their price objective on Goodfood Market from C$0.30 to C$0.25 and set a “hold” rating for the company in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Goodfood Market presently has a consensus rating of “Hold” and a consensus price target of C$0.23.

Goodfood Market Trading Up 6.4%

The firm has a market cap of C$24.71 million, a price-to-earnings ratio of -2.50 and a beta of 1.76. The business has a 50 day moving average of C$0.28 and a 200 day moving average of C$0.28. The company has a quick ratio of 0.77, a current ratio of 1.12 and a debt-to-equity ratio of -197.23.

Goodfood Market (TSE:FOOD) last announced its earnings results on Tuesday, January 20th. The company reported C($0.03) earnings per share for the quarter. The firm had revenue of C$27.54 million during the quarter. Goodfood Market had a negative net margin of 7.90% and a positive return on equity of 32.72%. On average, research analysts forecast that Goodfood Market Corp. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Goodfood Market news, Director John Khabbaz purchased 100,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was bought at an average cost of C$0.32 per share, for a total transaction of C$32,000.00. Following the acquisition, the director owned 7,900,000 shares of the company’s stock, valued at approximately C$2,528,000. The trade was a 1.28% increase in their position. Also, insider Phoenician Capital Llc purchased 100,000 shares of Goodfood Market stock in a transaction on Tuesday, December 23rd. The shares were acquired at an average cost of C$0.32 per share, for a total transaction of C$32,000.00. Following the purchase, the insider owned 7,900,000 shares in the company, valued at approximately C$2,528,000. This trade represents a 1.28% increase in their ownership of the stock. In the last three months, insiders bought 300,000 shares of company stock valued at $98,000. Company insiders own 23.16% of the company’s stock.

Goodfood Market Company Profile

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.