Stingray Digitl (TSE:RAY) Trading Up 1.7% – Should You Buy?

Shares of Stingray Digitl (TSE:RAY) traded up 1.7% on Wednesday . The company traded as high as C$15.60 and last traded at C$15.58. 31,505 shares changed hands during trading, a decline of 43% from the average daily volume of 55,307 shares. The stock had previously closed at C$15.32.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RAY. ATB Cormark Capital Markets set a C$24.00 target price on shares of Stingray Digitl and gave the stock a “buy” rating in a report on Friday, June 19th. Canaccord Genuity Group lifted 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 report on Friday, June 5th. Desjardins upgraded shares of Stingray Digitl to a “moderate buy” rating in a research report on Monday, June 22nd. Finally, National Bank Financial reduced 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 note on Tuesday, April 28th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$21.75.

Stingray Digitl Price Performance

The business has a fifty day moving average of C$14.84. The firm has a market capitalization of C$1.06 billion, a P/E ratio of -37.05 and a beta of 1.14.

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