Converge Technology Solutions Corp. (TSE:CTS – Get Rating)’s stock price shot up 1.4% during mid-day trading on Thursday . The stock traded as high as C$5.09 and last traded at C$4.96. 2,160,340 shares traded hands during trading, an increase of 230% from the average session volume of 654,224 shares. The stock had previously closed at C$4.89.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on CTS. Raymond James dropped their price objective on shares of Converge Technology Solutions from C$9.50 to C$8.50 in a report on Friday, October 28th. Canaccord Genuity Group dropped their price objective on shares of Converge Technology Solutions from C$12.00 to C$10.50 in a report on Thursday, November 10th. Eight Capital dropped their price objective on shares of Converge Technology Solutions from C$11.00 to C$10.00 in a report on Thursday, November 10th. National Bankshares dropped their price objective on shares of Converge Technology Solutions from C$12.00 to C$10.00 and set an “outperform” rating on the stock in a report on Tuesday, November 1st. Finally, Cormark dropped their price objective on shares of Converge Technology Solutions from C$10.00 to C$8.00 in a report on Thursday, November 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$10.17.
Converge Technology Solutions Stock Performance
The company has a debt-to-equity ratio of 63.41, a quick ratio of 0.68 and a current ratio of 0.84. The firm’s 50-day moving average price is C$5.07 and its two-hundred day moving average price is C$5.85. The firm has a market capitalization of C$1.04 billion and a price-to-earnings ratio of 21.57.
About Converge Technology Solutions
Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions for corporate and government institutions in the United States and Canada. Its solutions approach delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.
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