Parkit Enterprise (CVE:PKT) Trading Down 4.5% – Time to Sell?

Parkit Enterprise Inc. (CVE:PKT) traded down 4.5% on Tuesday . The stock traded as low as C$0.64 and last traded at C$0.64. 1,000 shares were traded during mid-day trading, a decline of 98% from the average session volume of 50,050 shares. The stock had previously closed at C$0.67.

Analysts Set New Price Targets

PKT has been the topic of several research reports. Scotiabank reduced their price objective on Parkit Enterprise from C$0.75 to C$0.60 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Cormark lowered their price objective on Parkit Enterprise from C$1.00 to C$0.80 in a research report on Friday, August 16th. Finally, Raymond James cut Parkit Enterprise from a “moderate buy” rating to a “hold” rating in a research report on Sunday, August 11th.

Parkit Enterprise Stock Performance

The company has a debt-to-equity ratio of 116.60, a current ratio of 2.95 and a quick ratio of 5.35. The stock has a market cap of C$138.52 million, a price-to-earnings ratio of -31.00 and a beta of 1.97. The firm has a fifty day moving average of C$0.64 and a 200 day moving average of C$0.59.

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. In other news, Director Robert Blair Tamblyn sold 60,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of C$0.67, for a total transaction of C$40,200.00. Also, Director Bradley Roy Dunkley bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was bought at an average price of C$0.70 per share, with a total value of C$699,800.00. Over the last 90 days, insiders purchased 1,036,000 shares of company stock valued at $723,080. 39.47% of the stock is currently owned by 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.