Converge Technology Solutions Corp. (TSE:CTS - Get Free Report) shares traded up 10.2% during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from C$5.50 to C$6.00. The stock traded as high as C$6.05 and last traded at C$6.03. 4,105,941 shares were traded during mid-day trading, an increase of 185% from the average session volume of 1,440,255 shares. The stock had previously closed at C$5.47.
CTS has been the topic of a number of other research reports. Cormark raised shares of Converge Technology Solutions from a "hold" rating to a "moderate buy" rating in a research report on Monday, January 13th. Stifel Nicolaus set a C$4.00 price target on shares of Converge Technology Solutions and gave the stock a "hold" rating in a report on Thursday, January 16th. CIBC increased their price objective on Converge Technology Solutions from C$5.50 to C$6.00 in a report on Thursday. TD Securities boosted their target price on Converge Technology Solutions from C$5.50 to C$6.00 and gave the stock a "sell" rating in a research note on Thursday. Finally, Jefferies Financial Group lowered their price target on Converge Technology Solutions from C$145.00 to C$140.00 and set a "hold" rating for the company in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$16.63.
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Converge Technology Solutions Stock Performance
The firm's fifty day simple moving average is C$5.12 and its 200 day simple moving average is C$4.19. The company has a market capitalization of C$1.12 billion, a PE ratio of -7.14, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 85.78, a current ratio of 0.96 and a quick ratio of 0.68.
Converge Technology Solutions Company Profile
(
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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.
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