Stingray Group (TSE:RAY.A) Stock Price Crosses Above 50-Day Moving Average of $7.51

Shares of Stingray Group (TSE:RAY.A) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 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.

Analyst Upgrades and Downgrades

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

Stingray Group Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 134.69. The company has a market capitalization of C$386.75 million, a price-to-earnings ratio of 14.45, a PEG ratio of 1.13 and a beta of 1.09. The company has a 50 day moving average price of C$7.51 and a 200 day moving average price of C$6.18.

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.