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

Parkit Enterprise Inc. (CVE:PKT)’s share price dropped 17.9% during trading on Tuesday . The company traded as low as C$0.55 and last traded at C$0.55. Approximately 169,401 shares traded hands during mid-day 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 Analysts Forecast Growth

PKT has been the topic of a number of research reports. Raymond James downgraded Parkit Enterprise from a “moderate buy” rating to a “hold” rating in a report on Sunday, August 11th. Cormark dropped their target price on Parkit Enterprise from C$1.00 to C$0.80 in a report on Friday, August 16th. Finally, Scotiabank lowered their price objective 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.

Parkit Enterprise Stock Performance

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

Insider Transactions at Parkit Enterprise

In related news, Director Bradley Roy Dunkley bought 1,000,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were bought at an average cost of C$0.70 per share, with a total value of C$699,800.00. Also, Director Robert Blair Tamblyn sold 60,000 shares of the business’s stock in a transaction 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. In the last quarter, insiders bought 1,036,000 shares of company stock worth $723,080. 39.47% of the stock is currently owned by corporate 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.