Stingray Digitl (TSE:RAY) Trading Down 0.6% – Should You Sell?

Stingray Digitl (TSE:RAY – Get Free Report) dropped 0.6% during mid-day trading on Wednesday . The company traded as low as C$15.35 and last traded at C$15.40. 20,709 shares were traded during trading, a decline of 59% from the average session volume of 50,772 shares. The stock had previously closed at C$15.50.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RAY. Canaccord Genuity Group lifted their price target 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. ATB Cormark Capital Markets set a C$24.00 target price on Stingray Digitl and gave the stock a “buy” rating in a report on Friday, June 19th. Finally, Desjardins upgraded Stingray Digitl to a “moderate buy” rating in a report on Monday, June 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$21.75.

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Stingray Digitl Price Performance

The firm has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -27.40 and a beta of 1.13. The stock has a 50 day moving average price of C$15.61 and a two-hundred day moving average price of C$15.15.

Stingray Digitl (TSE:RAY – Get Free Report) last announced its quarterly earnings data 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.

Stingray Digitl Company Profile

(Get Free Report)

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.

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