Stingray Digitl (TSE:RAY) Trading Up 1.7% – Here’s What Happened

Stingray Digitl (TSE:RAY)’s share price traded up 1.7% during mid-day trading on Wednesday . The stock traded as high as C$15.60 and last traded at C$15.58. Approximately 31,505 shares were traded during mid-day trading, a decline of 43% from the average session volume of 55,307 shares. The stock had previously closed at C$15.32.

Analyst Ratings Changes

Several equities research analysts recently commented on RAY shares. National Bank Financial cut their price target on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. ATB Cormark Capital Markets set a C$24.00 price objective on shares of Stingray Digitl and gave the company a “buy” rating in a research note on Friday, June 19th. Canaccord Genuity Group lifted their target price on Stingray Digitl from C$20.50 to C$21.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Desjardins upgraded Stingray Digitl to a “moderate buy” rating in a research report on Monday, June 22nd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Stingray Digitl presently has a consensus rating of “Buy” and a consensus target price of C$21.75.

Stingray Digitl Stock Up 1.7%

The business’s 50 day moving average is C$14.82. The company has a market capitalization of C$1.06 billion, a PE ratio of -37.10 and a beta of 1.14.

Stingray Digitl (TSE:RAY) last released its earnings results on Tuesday, June 9th. The company reported C$0.31 earnings per share (EPS) for the quarter.

About Stingray Digitl

Leveraging our expertise in personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through Pure Beauty, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international brand owners. We also provide product design and development collaboration as a value-added service for our customers. Our customers are brand owners of personal care electrical appliances who market and sell their personal care electrical appliances products to end consumers.