Stingray Digitl (TSE:RAY) Hits New 52-Week High – Here’s Why

Stingray Digitl (TSE:RAY) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$18.25 and last traded at C$17.99, with a volume of 55,960 shares trading hands. The stock had previously closed at C$16.81.

Analyst Upgrades and Downgrades

Several brokerages have commented on RAY. Desjardins raised their price objective on Stingray Digitl from C$22.00 to C$24.00 and gave the company a “buy” rating in a research report on Thursday. National Bank Financial upped their price target on Stingray Digitl from C$20.00 to C$21.50 and gave the company an “outperform” rating in a report on Thursday. Four investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$22.62.

Stingray Digitl Stock Performance

The company has a market capitalization of C$1.21 billion, a PE ratio of -35.29 and a beta of 0.96. The company’s fifty day moving average is C$15.95 and its 200-day moving average is C$15.36.

Stingray Digitl (TSE:RAY) last released its earnings results on Tuesday, November 10th. The company reported C$0.51 earnings per share for the quarter. The firm had revenue of C$171.39 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.