Canaccord Genuity Group Downgrades Computer Modelling Group (TSE:CMG) to Hold

Computer Modelling Group (TSE:CMG) was downgraded by Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$12.00 price objective on the stock, down from their previous price objective of C$15.00. Canaccord Genuity Group’s target price would indicate a potential upside of 18.69% from the stock’s current price.

A number of other brokerages have also weighed in on CMG. National Bankshares set a C$14.00 target price on Computer Modelling Group and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. CIBC lowered their price objective on shares of Computer Modelling Group from C$15.00 to C$14.50 in a research report on Wednesday. BMO Capital Markets raised their price objective on shares of Computer Modelling Group from C$13.00 to C$14.00 in a research report on Tuesday, July 16th. Acumen Capital upped their target price on shares of Computer Modelling Group from C$13.00 to C$15.00 in a research report on Friday, August 9th. Finally, Ventum Financial raised their price target on Computer Modelling Group from C$13.00 to C$15.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Computer Modelling Group currently has an average rating of “Moderate Buy” and an average target price of C$13.50.

Computer Modelling Group Stock Performance

TSE:CMG opened at C$10.11 on Wednesday. The business’s fifty day moving average is C$11.78 and its 200 day moving average is C$12.34. The firm has a market cap of C$827.50 million, a price-to-earnings ratio of 36.11, a PEG ratio of 1.97 and a beta of 1.21. The company has a debt-to-equity ratio of 52.77, a quick ratio of 2.25 and a current ratio of 1.81. Computer Modelling Group has a 52-week low of C$8.43 and a 52-week high of C$14.73.

Insider Buying and Selling

In related news, Senior Officer Long X. Nghiem sold 5,200 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of C$12.80, for a total value of C$66,560.00. 1.03% of the stock is currently owned by insiders.

About Computer Modelling Group

Computer Modelling Group Ltd., a software and consulting technology company, engages in the development and licensing of reservoir simulation and seismic interpretation software and related services. The company offers CMOST-AI, an optimization and analysis tool that offers solution for reservoir by combining advanced statistical analysis, machine learning, and impartial data interpretation; IMEX, a black oil simulator that is used to model primary, secondary, and tertiary oil recovery processes in conventional and unconventional reservoirs; and GEM, an equation-of-state reservoir simulator for compositional, chemical, and unconventional reservoir modelling.