The stock of Callidus Capital Corp (TSE:CBL) gapped up by $0.06 today and has $24.09 target or 40.00% above today’s $17.21 share price. The 9 months technical chart setup indicates low risk for the $867.18M company. The gap was reported on Oct, 17 by Barchart.com. If the $24.09 price target is reached, the company will be worth $346.87 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 45,831 shares traded hands or 26.12% up from the average. Callidus Capital Corp (TSE:CBL) has risen 80.39% since March 10, 2016 and is uptrending. It has outperformed by 74.78% the S&P500.
Callidus Capital Corp (TSE:CBL) Ratings Coverage
Out of 4 analysts covering Callidus Capital Corp. (TSE:CBL), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $28 is the highest target while $12 is the lowest. The $16.35 average target is -5.00% below today’s ($17.21) stock price. Callidus Capital Corp. has been the topic of 9 analyst reports since August 5, 2015 according to StockzIntelligence Inc. M Partners downgraded it to “Buy” rating and $15 target price in Tuesday, August 11 report. IBC downgraded the stock to “Sector Performer” rating in Tuesday, October 6 report. The rating was downgraded by Canaccord Genuity to “Hold” on Wednesday, December 9. National Bank Canada maintained the shares of CBL in a report on Friday, November 6 with “Outperform” rating. The stock has “Buy” rating given by Canaccord Genuity on Monday, August 10. The firm earned “Hold” rating on Monday, November 9 by TD Securities. On Wednesday, August 5 the stock rating was maintained by TD Securities with “Buy”.
More news for Callidus Capital Corp (TSE:CBL) were recently published by: Reuters.com, which released: “BRIEF-Callidus Capital Corp increases dividend by 20 pct” on October 17, 2016. Theglobeandmail.com‘s article titled: “The Globe and Mail” and published on May 18, 2014 is yet another important article.
Callidus Capital Corporation is a Canada company, which is engaged in providing financing solutions for companies that are unable to obtain financing from lending institutions. The company has a market cap of $867.18 million. The Firm operates a finance business that provides senior secured asset loans and lending services to mid-market companies operating in Canada and the United States. It has a 17.25 P/E ratio. The Firm offers loans ranging in size from $5 million to $100 million.
CBL Company Profile
CBL & Associates Properties, Inc. (CBL), incorporated on July 13, 1993, is a self-managed, self-administered, integrated real estate investment trust (REIT). The Firm owns, develops, acquires, leases, manages and operates regional shopping malls, open-air and mixed-use centers, outlet centers, associated centers, community centers and office properties. The Company’s divisions are Malls, Associated Centers, Community Centers and All Other. The Company’s properties are located in over 30 states, and are primarily located in the southeastern and midwestern United States. It conducts its business through CBL & Associates Limited Partnership (the Operating Partnership). It is the owner of two qualified REIT subsidiaries: CBL Holdings I, Inc. and CBL Holdings II, Inc.
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