Stingray Digitl (TSE:RAY) Shares Climb 2.3% – Should You Buy?

Shares of Stingray Digitl (TSE:RAY) rose 2.3% during trading on Wednesday. The stock traded as high as C$16.00 and last traded at C$15.85. 22,901 shares were traded during trading, a decline of 53% from the average session volume of 48,534 shares. The stock had previously closed at C$15.50.

Analysts Set New Price Targets

RAY has been the subject of several recent analyst reports. Desjardins raised shares of Stingray Digitl to a “moderate buy” rating in a report on Monday, June 22nd. ATB Cormark Capital Markets set a C$24.00 price target on Stingray Digitl and gave the company a “buy” rating in a report on Friday, June 19th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$21.75.

Stingray Digitl Stock Performance

The company has a market capitalization of C$1.06 billion, a P/E ratio of -27.81 and a beta of 1.15. The business’s fifty day simple moving average is C$15.61 and its 200-day simple moving average is C$15.20.

Stingray Digitl (TSE:RAY) last issued its earnings results on Monday, August 10th. The company reported C$0.40 earnings per share (EPS) for the quarter. The firm 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.