Stingray Digitl (TSE:RAY) Trading Up 2.4% – Time to Buy?

Stingray Digitl (TSE:RAY) shot up 2.4% during mid-day trading on Wednesday . The company traded as high as C$15.48 and last traded at C$15.40. Approximately 5,520 shares traded hands during trading, a decline of 89% from the average session volume of 50,970 shares. The stock had previously closed at C$15.04.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. ATB Cormark Capital Markets set a C$24.00 target price on Stingray Digitl and gave the company a “buy” rating in a research report on Friday, June 19th. National Bank Financial reduced their target price on shares of 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. Desjardins upgraded shares of Stingray Digitl to a “moderate buy” rating in a report on Monday, June 22nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Stingray Digitl from C$20.50 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$21.75.

Stingray Digitl Trading Up 2.4%

The company has a market capitalization of C$1.05 billion, a P/E ratio of -27.02 and a beta of 1.16. The stock has a 50-day moving average of C$15.43.

Stingray Digitl (TSE:RAY) last issued its quarterly 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 during 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.