Stingray Group (TSE:RAY.A) Stock Crosses Below Fifty Day Moving Average of $7.46

Stingray Group (TSE:RAY.A)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$7.46 and traded as low as C$7.40. Stingray Group shares last traded at C$7.58, with a volume of 24,428 shares traded.

Analyst Upgrades and Downgrades

RAY.A has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on Stingray Group from C$9.00 to C$10.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. CIBC raised their price target on Stingray Group from C$10.00 to C$10.50 and gave the company an “outperform” rating in a report on Thursday, June 6th.

Stingray Group Price Performance

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 firm has a market capitalization of C$382.71 million, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11. The company has a 50-day moving average price of C$7.46 and a 200-day moving average price of C$7.10.

Insiders Place Their Bets

In other Stingray Group news, Senior Officer David Purdy bought 100,000 shares of Stingray Group stock in a transaction on Friday, June 21st. The shares were purchased at an average cost of C$7.15 per share, for a total transaction of C$715,000.00. In other news, Senior Officer David Purdy purchased 100,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were bought at an average cost of C$7.15 per share, for a total transaction of C$715,000.00. Also, insider Mavrik Corp. purchased 140,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of C$7.15 per share, for a total transaction of C$1,001,000.00. Corporate insiders own 16.43% of the company’s stock.

About Stingray Group

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.