Stingray Digitl (TSE:RAY) Trading Up 2.4% – Here’s Why

Stingray Digitl (TSE:RAY)’s share price rose 2.4% on Wednesday . The stock traded as high as C$15.48 and last traded at C$15.40. 5,520 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 50,970 shares. The stock had previously closed at C$15.04.

Wall Street Analyst Weigh In

RAY has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on Stingray Digitl from C$20.50 to C$21.00 and gave the stock a “buy” rating in a report on Friday, June 5th. National Bank Financial decreased their target price on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 28th. ATB Cormark Capital Markets set a C$24.00 price objective on shares of Stingray Digitl and gave the stock a “buy” rating in a research note on Friday, June 19th. Finally, Desjardins raised shares of Stingray Digitl to a “moderate buy” rating in a report on Monday, June 22nd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$21.75.

Stingray Digitl Price Performance

The business has a 50-day simple moving average of C$15.43. The company has a market capitalization of C$1.05 billion, a PE ratio of -27.02 and a beta of 1.16.

Stingray Digitl (TSE:RAY) last posted its earnings results on Monday, August 10th. The company reported C$0.40 earnings per share (EPS) for the quarter. The firm had revenue of C$158.02 million 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.