RediShred Capital (CVE:KUT) Reaches New 1-Year High – Time to Buy?

Shares of RediShred Capital Corp. (CVE:KUT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$4.90 and last traded at C$4.89, with a volume of 16800 shares trading hands. The stock had previously closed at C$4.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on KUT shares. Ventum Financial lowered their price objective on RediShred Capital from C$7.00 to C$5.00 in a research note on Monday, November 25th. Cormark raised their price target on RediShred Capital from C$5.75 to C$6.00 in a research report on Friday, August 30th. Finally, Singular Research upgraded shares of RediShred Capital to a “strong-buy” rating in a research report on Monday, September 30th.

RediShred Capital Price Performance

The company has a current ratio of 0.46, a quick ratio of 1.33 and a debt-to-equity ratio of 69.47. The company has a market capitalization of C$89.54 million, a PE ratio of 37.62 and a beta of 1.34. The stock’s 50-day moving average is C$4.58 and its two-hundred day moving average is C$3.73.

About RediShred Capital

RediShred Capital Corp., together with its subsidiaries, operates the Proshred franchise and license business in the United States. The company operates through three segments: Franchising and licensing, Corporate Locations, and Corporate. It grants and manages shredding business franchises under the Proshred brand, as well as operates corporate shredding locations.