Stingray Group (TSE:RAY.A) Shares Cross Above Fifty Day Moving Average – What’s Next?

Stingray Group (TSE:RAY.A)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$8.63 and traded as high as C$8.78. Stingray Group shares last traded at C$8.73, with a volume of 4,873 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. TD Securities boosted their price target on shares of Stingray Group from C$11.00 to C$12.00 and gave the company an “outperform” rating in a report on Tuesday, April 29th. BMO Capital Markets boosted their target price on shares of Stingray Group from C$10.50 to C$11.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. Finally, CIBC boosted their target price on shares of Stingray Group from C$11.00 to C$11.50 in a research note on Friday, February 7th.

Stingray Group Trading Up 0.7%

The company’s 50-day moving average is C$8.63 and its 200-day moving average is C$8.23. The firm has a market cap of C$463.91 million, a price-to-earnings ratio of -30.10, a P/E/G 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.

Stingray Group Company Profile

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment.