Stingray Digitl (TSE:RAY) Stock Price Down 0.4% – Here’s Why

Stingray Digitl (TSE:RAY)’s share price traded down 0.4% during mid-day trading on Wednesday . The company traded as low as C$15.22 and last traded at C$15.67. Approximately 41,813 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 52,135 shares. The stock had previously closed at C$15.73.

Analyst Ratings Changes

A number of research firms have recently commented on RAY. Desjardins raised shares of Stingray Digitl to a “moderate buy” rating in a report on Monday, June 22nd. Canaccord Genuity Group raised their price target on shares of Stingray Digitl from C$20.50 to C$21.00 and gave the company a “buy” rating in a research note on Friday, June 5th. National Bank Financial lowered their price objective on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Finally, 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. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$21.75.

Stingray Digitl Stock Down 0.4%

The business has a 50-day moving average of C$15.29. The firm has a market cap of C$1.07 billion, a price-to-earnings ratio of -37.31 and a beta of 1.16.

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