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

Parkit Enterprise Inc. (CVE:PKT)’s share price traded down 4.5% during trading on Tuesday . The company traded as low as C$0.64 and last traded at C$0.64. 1,000 shares changed hands 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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PKT shares. Cormark decreased their target price on Parkit Enterprise from C$1.00 to C$0.80 in a research report on Friday, August 16th. Raymond James downgraded shares of Parkit Enterprise from a “moderate buy” rating to a “hold” rating in a report on Sunday, August 11th. Finally, Scotiabank cut their target price on shares of Parkit Enterprise from C$0.75 to C$0.60 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th.

Parkit Enterprise Price Performance

The stock has a 50 day moving average price of C$0.64 and a 200-day moving average price of C$0.59. 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 capitalization of C$142.99 million, a price-to-earnings ratio of -32.00 and a beta of 1.97.

Insiders Place Their Bets

In other Parkit Enterprise news, Director Bradley Roy Dunkley bought 1,000,000 shares of Parkit Enterprise stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average cost of C$0.70 per share, for a total transaction of C$699,800.00. In other Parkit Enterprise news, Director Robert Blair Tamblyn sold 60,000 shares of the business’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 company’s stock in a transaction 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. Insiders have acquired a total of 1,036,000 shares of company stock valued at $723,080 in the last 90 days. 39.47% of the stock is 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.