Stingray Digitl (TSE:RAY) Trading 2.4% Higher – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RAY shares. ATB Cormark Capital Markets set a C$24.00 price target on Stingray Digitl and gave the stock a “buy” rating in a research note on Friday, June 19th. Canaccord Genuity Group upped 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 report on Friday, June 5th. Finally, Desjardins upgraded shares of Stingray Digitl to a “moderate buy” rating in a report on Monday, June 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$21.75.

Stingray Digitl Price Performance

The stock’s 50-day moving average is C$15.42. The stock has a market capitalization of C$1.04 billion, a price-to-earnings ratio of -26.84 and a beta of 1.16.

Stingray Digitl (TSE:RAY) last released its earnings results on Monday, August 10th. The company reported C$0.40 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.