Stingray Digitl (TSE:RAY) Shares Up 12.1% on Analyst Upgrade

Shares of Stingray Digitl (TSE:RAY) traded up 12.1% on Thursday after Desjardins raised their price target on the stock to C$22.00. Desjardins currently has a buy rating on the stock. Stingray Digitl traded as high as C$16.16 and last traded at C$16.16. 103,776 shares traded hands during mid-day trading, an increase of 84% from the average session volume of 56,530 shares. The stock had previously closed at C$14.42.

RAY has been the topic of several other reports. Canaccord Genuity Group raised their target price on shares of Stingray Digitl from C$20.50 to C$21.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. National Bank Financial dropped their price target on shares of Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$21.00.

Stingray Digitl Stock Performance

The company has a market capitalization of C$1.14 billion, a price-to-earnings ratio of 26.56 and a beta of 1.16. The stock has a fifty day moving average price of C$14.74.

Stingray Digitl (TSE:RAY) last posted its quarterly earnings data on Tuesday, June 9th. The company reported C$0.31 earnings per share 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.