Converge Technology Solutions (TSE:CTS) Trading 0.2% Higher - Here's What Happened

Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) traded up 0.2% on Friday . The company traded as high as C$5.47 and last traded at C$5.46. 1,191,973 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 1,431,970 shares. The stock had previously closed at C$5.45.

Wall Street Analysts Forecast Growth

CTS has been the subject of a number of recent analyst reports. CIBC increased their price target on Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. Jefferies Financial Group lowered their target price on Converge Technology Solutions from C$145.00 to C$140.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Scotiabank raised their price target on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a report on Friday, February 7th. Canaccord Genuity Group boosted their target price on Converge Technology Solutions from C$153.00 to C$154.00 and gave the stock a "hold" rating in a report on Friday, March 7th. Finally, Stifel Nicolaus set a C$4.00 price target on Converge Technology Solutions and gave the company a "hold" rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$28.83.

Converge Technology Solutions Trading Up 0.5 %

The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 85.78. The stock has a market capitalization of C$1.04 billion, a P/E ratio of -6.58, a P/E/G ratio of 0.14 and a beta of 1.81. The business's fifty day simple moving average is C$4.94 and its two-hundred day simple moving average is C$4.15.

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Converge Technology Solutions Company Profile

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.