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

Shares of Stingray Digitl (TSE:RAY) shot 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 changed hands during mid-day trading, a decline of 43% from the average daily volume of 55,307 shares. The stock had previously closed at C$15.32.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. ATB Cormark Capital Markets set a C$24.00 target price on Stingray Digitl and gave the stock 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 company a “buy” rating in a research report on Friday, June 5th. 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. Finally, Desjardins raised shares of Stingray Digitl to a “moderate buy” rating in a research note on Monday, June 22nd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$21.75.

Stingray Digitl Stock Up 1.7%

The company has a 50-day moving average price of C$14.82. The firm has a market capitalization of C$1.06 billion, a price-to-earnings ratio of -37.10 and a beta of 1.14.

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