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

Parkit Enterprise Inc. (CVE:PKT) 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 were traded 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

PKT has been the subject of several recent analyst reports. Scotiabank lowered 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 report on Wednesday, August 14th. Cormark dropped their price target on shares of Parkit Enterprise from C$1.00 to C$0.80 in a research report on Friday, August 16th. Finally, Raymond James lowered shares of Parkit Enterprise from a “moderate buy” rating to a “hold” rating in a report on Sunday, August 11th.

Parkit Enterprise Trading Up 1.5 %

The business’s 50-day moving average is C$0.66 and its two-hundred day moving average is 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. The stock has a market capitalization of C$149.69 million, a PE ratio of -33.00 and a beta of 1.97.

Insider Activity

In other Parkit Enterprise news, Director Bradley Roy Dunkley bought 1,000,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was bought at an average cost 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 Parkit Enterprise stock in a transaction dated Friday, October 11th. The stock was sold at an average price of C$0.67, for a total value of C$40,200.00. Over the last quarter, insiders purchased 1,036,000 shares of company stock worth $723,080. 39.47% of the stock is currently owned by corporate insiders.

About Parkit Enterprise

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.