Redknee Solutions Inc (RKN) Price Target Cut to C$0.75

Redknee Solutions Inc (TSE:RKN) had its target price decreased by equities research analysts at Royal Bank Of Canada from C$1.00 to C$0.75 in a note issued to investors on Friday, May 12th. The brokerage currently has an “underperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential downside of 8.54% from the stock’s current price.

A number of other research analysts have also recently commented on RKN. Canaccord Genuity reduced their target price on Redknee Solutions from C$1.60 to C$1.25 in a research note on Friday, February 24th. Raymond James Financial, Inc. decreased their target price on shares of Redknee Solutions from C$1.95 to C$1.65 and set an “outperform” rating for the company in a research note on Friday, March 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$1.13.

Analyst Recommendations for Redknee Solutions (TSE:RKN)

Redknee Solutions (TSE RKN) traded up 1.23% during midday trading on Friday, reaching $0.82. The company had a trading volume of 18,776 shares. The company’s 50-day moving average is $0.85 and its 200 day moving average is $1.27. Redknee Solutions has a 52-week low of $0.73 and a 52-week high of $2.54. The company’s market cap is $88.84 million.

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In other news, insider Vishal Kothari sold 60,000 shares of Redknee Solutions stock in a transaction on Thursday, May 18th. The shares were sold at an average price of C$0.76, for a total transaction of C$45,600.00.

About Redknee Solutions

Redknee Solutions Inc is a Canada-based company, which offers real-time monetization and subscriber management software products, solutions and services. The Company’s solutions include Redknee Communications Suite, including Revenue Management, fourth generation (4G) Monetization, Cloud Solutions, Marketing Solutions and Customer Experience, and Redknee Connected Suite, including Energy and Utilities, Internet of Things and Retail.

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