Short Interest in Stingray Group Inc. (OTCMKTS:STGYF) Grows By 68.6%

Stingray Group Inc. (OTCMKTS:STGYF) was the target of a large increase in short interest in January. As of January 15th, there was short interest totaling 32,469 shares, an increase of 68.6% from the December 31st total of 19,260 shares. Based on an average daily volume of 22 shares, the days-to-cover ratio is presently 1,475.9 days. Based on an average daily volume of 22 shares, the days-to-cover ratio is presently 1,475.9 days.

Stingray Group Price Performance

Shares of Stingray Group stock opened at C$10.75 on Friday. The company has a 50 day moving average price of C$10.54 and a 200 day moving average price of C$8.60. Stingray Group has a 52 week low of C$5.85 and a 52 week high of C$10.98.

Analyst Upgrades and Downgrades

Separately, National Bankshares reissued an “outperform” rating on shares of Stingray Group in a report on Monday, October 27th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Stingray Group presently has a consensus rating of “Buy”.

Stingray Group Company Profile

Stingray Group is a Montreal-based music, media and technology company founded in 2007 by Eric Boyko and Alexandre Taillefer. Originally launched as a digital audio service provider, the company has expanded its offerings to encompass a broad suite of music and video content solutions for both consumer and business markets.

The company’s core activities include the creation and distribution of music streams, curated audio channels and video programming. Stingray’s products are delivered through cable and satellite operators, mobile and smart-TV applications, as well as in-store music and digital signage platforms.