Stingray Group (TSE:RAY.A) Stock Price Passes Below Fifty Day Moving Average of $7.58

Stingray Group (TSE:RAY.A) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$7.58 and traded as low as C$7.41. Stingray Group shares last traded at C$7.45, with a volume of 42,780 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Desjardins increased their target price on Stingray Group from C$9.00 to C$10.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. BMO Capital Markets raised their price objective on shares of Stingray Group from C$7.00 to C$9.50 in a report on Thursday, February 8th. CIBC upped their target price on shares of Stingray Group from C$8.00 to C$10.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada boosted their price target on Stingray Group from C$9.00 to C$10.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th.

Stingray Group Stock Down 3.1 %

The firm has a market cap of C$376.15 million, a P/E ratio of 14.06, a P/E/G ratio of 1.13 and a beta of 1.11. The company has a debt-to-equity ratio of 134.69, a quick ratio of 0.69 and a current ratio of 1.13. The firm’s fifty day moving average is C$7.58 and its 200 day moving average is C$6.48.

Stingray Group Company Profile

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.