Stingray Group (TSE:RAY.A) Stock Passes Above 50 Day Moving Average – Time to Sell?

Stingray Group (TSE:RAY.A)’s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$8.16 and traded as high as C$8.76. Stingray Group shares last traded at C$8.56, with a volume of 25,111 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. CIBC upped their target price on Stingray Group from C$11.00 to C$11.50 in a report on Friday, February 7th. BMO Capital Markets upped their target price on Stingray Group from C$10.50 to C$11.00 and gave the company a “market perform” rating in a report on Friday, February 7th.

Stingray Group Stock Up 0.2 %

The business has a fifty day moving average of C$8.20 and a 200 day moving average of C$7.81. The company has a market capitalization of C$455.94 million, a PE ratio of -29.59, a PEG ratio of 1.13 and a beta of 1.07. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45.

Insider Buying and Selling at Stingray Group

In other news, Senior Officer Lloyd Perry Feldman sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of C$8.48, for a total transaction of C$84,751.00. Also, Senior Officer Mario Dubois sold 19,800 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of C$8.43, for a total value of C$166,854.60. Insiders have sold 37,800 shares of company stock valued at $311,614 in the last quarter. Corporate insiders own 25.46% of the company’s stock.

Stingray Group Company Profile

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.