MedReleaf Corp (TSE:LEAF) dropped 7.3% during mid-day trading on Monday following insider selling activity. The stock traded as low as C$21.65 and last traded at C$21.88. Approximately 479,612 shares traded hands during trading, a decline of 57% from the average daily volume of 1,109,185 shares. The stock had previously closed at C$23.60.
Specifically, insider Olam Ltd. Tikun sold 28,600 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of C$25.00, for a total value of C$715,000.00.
A number of equities analysts recently commented on LEAF shares. Canaccord Genuity raised their price target on shares of MedReleaf from C$15.00 to C$20.00 in a research report on Tuesday, November 14th. Cowen raised their price target on shares of MedReleaf from C$20.00 to C$36.00 in a research report on Monday, January 8th. Finally, Eight Capital raised their price target on shares of MedReleaf from C$13.00 to C$20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th.
The stock has a market capitalization of $2,070.00 and a P/E ratio of 1,091.50.
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MedReleaf Corp. produces and sells cannabis-based pharmaceutical products in Canada. It offers dried cannabis, cannabis oils, and cannabis oil capsules; and various accessories, including grinders, vaporizers, and lockable containers. The company was incorporated in 2013 and is headquartered in Markham, Canada.
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