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

Stingray Digitl (TSE:RAY) shares traded 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 trading, a decline of 59% from the average session volume of 50,772 shares. The stock had previously closed at C$15.50.

Analysts Set New Price Targets

RAY has been the topic of several research reports. Canaccord Genuity Group upped their target price on Stingray Digitl from C$20.50 to C$21.00 and gave the company a “buy” rating in a research report on Friday, June 5th. ATB Cormark Capital Markets set a C$24.00 price target on Stingray Digitl and gave the company a “buy” rating in a research note on Friday, June 19th. Finally, Desjardins raised Stingray Digitl to a “moderate buy” rating in a report on Monday, June 22nd. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$21.75.

Stingray Digitl Trading Down 0.6%

The company has a market capitalization of C$1.03 billion, a PE ratio of -27.02 and a beta of 1.13. The business’s 50-day simple moving average is C$15.60 and its 200-day simple moving average is C$15.14.

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