Stingray Group (TSE:RAY.A) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Shares of Stingray Group (TSE:RAY.A) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$8.50 and traded as high as C$8.82. Stingray Group shares last traded at C$8.78, with a volume of 24,493 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, 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.

Stingray Group Trading Up 3.1%

The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The company’s fifty day moving average is C$8.50 and its 200-day moving average is C$8.30. The firm has a market capitalization of C$466.57 million, a P/E ratio of -30.28, a P/E/G ratio of 1.13 and a beta of 1.07.

About Stingray Group

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.