Converge Technology Solutions (TSE:CTS) Trading Up 0.2% – Here’s What Happened

Converge Technology Solutions Corp. (TSE:CTS) shares rose 0.2% during trading on Friday . The stock traded as high as C$5.47 and last traded at C$5.46. Approximately 1,191,973 shares were traded during trading, a decline of 17% from the average daily volume of 1,431,970 shares. The stock had previously closed at C$5.45.

Analyst Ratings Changes

CTS has been the topic of a number of research analyst reports. Jefferies Financial Group dropped their price target 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. CIBC boosted their target price on shares of Converge Technology Solutions from C$4.00 to C$5.50 in a research report on Monday, February 10th. 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. TD Securities raised shares of Converge Technology Solutions from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Desjardins lowered Converge Technology Solutions from a “buy” rating to a “tender” rating and raised their target price for the stock from C$5.00 to C$5.50 in a research note on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Converge Technology Solutions currently has an average rating of “Moderate Buy” and an average target price of C$28.83.

Converge Technology Solutions Stock Performance

The company has a market capitalization of C$1.03 billion, a PE ratio of -6.55, a PEG ratio of 0.14 and a beta of 1.81. The firm has a 50-day moving average of C$4.90 and a two-hundred day moving average of C$4.15. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 85.78.

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.