Stingray Group (TSE:RAY.A) Shares Cross Above 50 Day Moving Average of $7.51

Stingray Group (TSE:RAY.A)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$7.51 and traded as high as C$7.66. Stingray Group shares last traded at C$7.66, with a volume of 16,919 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RAY.A shares. BMO Capital Markets increased their price objective on shares of Stingray Group from C$7.00 to C$9.50 in a research note on Thursday, February 8th. Royal Bank of Canada upped their price objective on Stingray Group from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. CIBC increased their price objective on Stingray Group from C$8.00 to C$10.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Finally, Desjardins boosted their target price on shares of Stingray Group from C$9.00 to C$10.00 and gave the stock a “buy” rating in a report on Thursday, February 8th.

Stingray Group Price Performance

The stock has a market capitalization of C$375.65 million, a price-to-earnings ratio of 14.04, a PEG ratio of 1.13 and a beta of 1.09. 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 company has a fifty day simple moving average of C$7.52 and a two-hundred day simple moving average of C$6.21.

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.