Parkit Enterprise (CVE:PKT) Trading Down 3.5%

Shares of Parkit Enterprise Inc. (CVE:PKT) dropped 3.5% during mid-day trading on Monday . The stock traded as low as C$0.55 and last traded at C$0.55. Approximately 68,710 shares were traded during mid-day trading, an increase of 80% from the average daily volume of 38,205 shares. The stock had previously closed at C$0.57.

Analysts Set New Price Targets

PKT has been the subject of several analyst reports. Canaccord Genuity Group lifted their price objective on shares of Parkit Enterprise from C$0.70 to C$0.80 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Raymond James lifted their price objective on shares of Parkit Enterprise from C$0.60 to C$0.85 and gave the company an “outperform” rating in a research note on Monday, January 8th.

Parkit Enterprise Stock Performance

The company has a debt-to-equity ratio of 112.90, a quick ratio of 5.35 and a current ratio of 4.00. The firm’s 50-day moving average price is C$0.64 and its two-hundred day moving average price is C$0.61. The firm has a market capitalization of C$134.46 million, a price-to-earnings ratio of -29.50 and a beta of 2.10.

Parkit Enterprise (CVE:PKT) last issued its earnings results on Thursday, March 7th. The company reported C($0.02) earnings per share for the quarter, missing the consensus estimate of C$0.01 by C($0.03). Parkit Enterprise had a negative net margin of 21.29% and a negative return on equity of 3.31%. The business had revenue of C$5.83 million for the quarter. Sell-side analysts predict that Parkit Enterprise Inc. will post 0.03 earnings per share for the current year.

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.