Stingray Group (TSE:RAY.A) Share Price Passes Above 50-Day Moving Average – Here’s Why

Stingray Group (TSE:RAY.A) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$7.68 and traded as high as C$7.88. Stingray Group shares last traded at C$7.80, with a volume of 41,083 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Stingray Group from C$10.00 to C$11.00 in a research report on Thursday, November 7th. CIBC lifted their price objective on shares of Stingray Group from C$10.50 to C$11.00 in a report on Thursday, November 7th.

Stingray Group Stock Performance

The stock has a market cap of C$414.49 million, a price-to-earnings ratio of -26.90, a P/E/G ratio of 1.13 and a beta of 1.07. The firm’s 50-day moving average is C$7.68 and its two-hundred day moving average is C$7.64. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45.

Insider Transactions at Stingray Group

In related news, Senior Officer Mathieu Péloquin sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of C$7.97, for a total transaction of C$39,850.00. Also, Senior Officer Mario Dubois sold 4,200 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$8.30, for a total transaction of C$34,860.00. Insiders have sold a total of 24,800 shares of company stock worth $200,000 in the last ninety days. Insiders own 25.46% of the company’s stock.

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.