Goodfood Market (TSE:FOOD) Shares Down 14.3% – Here’s What Happened

Goodfood Market Corp. (TSE:FOOD)’s share price fell 14.3% on Tuesday . The stock traded as low as C$0.03 and last traded at C$0.03. Approximately 1,652,420 shares changed hands during mid-day trading, an increase of 606% from the average daily volume of 234,096 shares. The stock had previously closed at C$0.04.

Analysts Set New Price Targets

Separately, Desjardins dropped their price target on shares of Goodfood Market from C$0.15 to C$0.05 in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$0.05.

Goodfood Market Stock Performance

The company has a quick ratio of 0.77, a current ratio of 0.30 and a debt-to-equity ratio of -139.69. The stock has a market cap of C$2.99 million, a price-to-earnings ratio of -0.21 and a beta of 1.95. The company’s 50-day simple moving average is C$0.15 and its 200-day simple moving average is C$0.21.

About Goodfood Market

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.