Stingray Group (TSE:RAY.A) Shares Cross Above 50 Day Moving Average – Here’s Why

Stingray Group (TSE:RAY.A) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$7.44 and traded as high as C$8.30. Stingray Group shares last traded at C$8.15, with a volume of 66,104 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. National Bankshares increased their price target on Stingray Group from C$9.50 to C$10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. BMO Capital Markets raised their price target on shares of Stingray Group from C$9.50 to C$10.50 in a report on Thursday, August 8th. Royal Bank of Canada upped their price objective on shares of Stingray Group from C$10.00 to C$11.00 in a research note on Thursday, November 7th. Finally, CIBC lifted their target price on shares of Stingray Group from C$10.50 to C$11.00 in a research note on Thursday, November 7th.

Stingray Group Price Performance

The stock has a market capitalization of C$433.09 million, a P/E ratio of -28.10, a PEG ratio of 1.13 and a beta of 1.07. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. The business has a fifty day simple moving average of C$7.44 and a 200-day simple moving average of C$7.58.

Insider Buying and Selling

In other news, Senior Officer Mario Dubois sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$7.99, for a total transaction of C$79,920.00. Insiders have sold a total of 14,300 shares of company stock valued at $114,070 over the last ninety days. 25.46% of the stock is owned by corporate insiders.

Stingray Group Company Profile

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.