Stingray Digitl (TSE:RAY) Stock Price Down 0.4% – Should You Sell?

Stingray Digitl (TSE:RAY) traded down 0.4% during mid-day trading on Wednesday . The company traded as low as C$15.22 and last traded at C$15.67. 41,813 shares changed hands during trading, a decline of 20% from the average session volume of 52,135 shares. The stock had previously closed at C$15.73.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. National Bank Financial lowered their target price on Stingray Digitl from C$21.00 to C$20.00 and set an “outperform” rating for the company in a report on Tuesday, April 28th. Desjardins raised Stingray Digitl to a “moderate buy” rating in a research report on Monday, June 22nd. Canaccord Genuity Group upped their price objective on Stingray Digitl from C$20.50 to C$21.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, ATB Cormark Capital Markets set a C$24.00 price objective on Stingray Digitl and gave the company a “buy” rating in a research report on Friday, June 19th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Stingray Digitl presently has a consensus rating of “Buy” and a consensus target price of C$21.75.

Stingray Digitl Stock Performance

The stock has a market capitalization of C$1.05 billion, a price-to-earnings ratio of -36.67 and a beta of 1.16. The company has a 50 day moving average of C$15.31.

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