Stingray Digitl (TSE:RAY) Trading Down 0.6% – What’s Next?

Stingray Digitl (TSE:RAY)’s stock price was down 0.6% on Wednesday . The company traded as low as C$15.35 and last traded at C$15.40. 20,709 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 50,772 shares. The stock had previously closed at C$15.50.

Analyst Ratings Changes

RAY has been the topic of a number of analyst reports. ATB Cormark Capital Markets set a C$24.00 price objective on shares of Stingray Digitl and gave the stock a “buy” rating in a research report on Friday, June 19th. Desjardins raised shares of Stingray Digitl to a “moderate buy” rating in a research report on Monday, June 22nd. Finally, Canaccord Genuity Group raised their target price on shares of Stingray Digitl from C$20.50 to C$21.00 and gave the company a “buy” rating in a research note on Friday, June 5th. 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 firm has a market cap of C$1.03 billion, a price-to-earnings ratio of -27.02 and a beta of 1.13. The firm has a fifty day simple moving average of C$15.60 and a two-hundred day simple moving average of C$15.14.

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