Stingray Digitl (TSE:RAY) Shares Up 2.3% – What’s Next?

Stingray Digitl (TSE:RAY)’s stock price shot up 2.3% during mid-day trading on Wednesday. The stock traded as high as C$16.00 and last traded at C$15.85. 22,901 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 48,534 shares. The stock had previously closed at C$15.50.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RAY shares. Desjardins raised shares of Stingray Digitl to a “moderate buy” rating in a research report on Monday, June 22nd. ATB Cormark Capital Markets set a C$24.00 price target on shares of Stingray Digitl and gave the company a “buy” rating in a research note on Friday, June 19th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Stingray Digitl currently has a consensus rating of “Buy” and a consensus price target of C$21.75.

Stingray Digitl Price Performance

The stock’s 50 day simple moving average is C$15.61 and its 200-day simple moving average is C$15.22. The company has a market capitalization of C$1.06 billion, a PE ratio of -27.75 and a beta of 1.15.

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