Stingray Group (TSE:RAY.A) Share Price Passes Below Fifty Day Moving Average – What’s Next?

Stingray Group (TSE:RAY.A) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$10.15 and traded as low as C$10.11. Stingray Group shares last traded at C$10.18, with a volume of 26,959 shares traded.

Analyst Upgrades and Downgrades

RAY.A has been the topic of a number of research reports. National Bankshares boosted their target price on shares of Stingray Group from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. CIBC boosted their target price on shares of Stingray Group from C$11.50 to C$13.50 in a report on Thursday, June 12th. Finally, Desjardins set a C$11.50 target price on shares of Stingray Group and gave the stock a “buy” rating in a report on Wednesday, June 11th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Stingray Group presently has an average rating of “Moderate Buy” and an average price target of C$12.00.

Stingray Group Price Performance

The stock’s fifty day moving average price is C$10.15 and its 200-day moving average price is C$9.40. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The firm has a market cap of C$689.11 million, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10.

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.