Stingray Digitl (TSE:RAY) Stock Price Down 2.4% – What’s Next?

Stingray Digitl (TSE:RAY)’s share price dropped 2.4% during mid-day trading on Tuesday . The stock traded as low as C$13.00 and last traded at C$13.27. Approximately 67,549 shares changed hands during trading, an increase of 12% from the average daily volume of 60,112 shares. The stock had previously closed at C$13.59.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial cut their price target on Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus target price of C$20.00.

Stingray Digitl Stock Performance

The stock has a market capitalization of C$942.28 million, a P/E ratio of 21.98 and a beta of 1.31. The firm has a fifty day simple moving average of C$14.75.

Stingray Digitl (TSE:RAY) last posted its earnings results on Tuesday, February 10th. The company reported C$0.38 earnings per share for the quarter. The firm had revenue of C$124.84 million for the quarter.

Stingray Digitl Company Profile

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.