RediShred Capital (CVE:KUT) Hits New 1-Year High – Here’s Why

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Ventum Financial reduced their target price on RediShred Capital from C$7.00 to C$5.00 in a report on Monday, November 25th. Singular Research upgraded RediShred Capital to a “strong-buy” rating in a report on Monday, September 30th. Finally, Cormark boosted their target price on RediShred Capital from C$5.75 to C$6.00 in a report on Friday, August 30th.

RediShred Capital Stock Performance

The company has a fifty day moving average of C$4.53 and a two-hundred day moving average of C$3.70. 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 stock has a market capitalization of C$89.72 million, a price-to-earnings ratio of 37.69 and a beta of 1.34.

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.