Stingray Group (TSE:RAY.A) Stock Price Passes Below 200-Day Moving Average of $7.62

Shares of Stingray Group (TSE:RAY.A) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$7.62 and traded as low as C$7.09. Stingray Group shares last traded at C$7.18, with a volume of 41,508 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. CIBC lifted their target price on shares of Stingray Group from C$10.00 to C$10.50 and gave the company an “outperform” rating in a report on Thursday, June 6th. National Bankshares lifted their price objective on shares of Stingray Group from C$9.50 to C$10.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets increased their target price on shares of Stingray Group from C$9.50 to C$10.50 in a research note on Thursday, August 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$9.83.

Stingray Group Trading Down 1.1 %

The stock has a market capitalization of C$381.01 million, a PE ratio of -25.00, a P/E/G ratio of 1.13 and a beta of 1.09. The company’s 50 day moving average price is C$7.80 and its two-hundred day moving average price is C$7.62. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69.

Insider Buying and Selling at Stingray Group

In related news, Senior Officer Mario Dubois sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of C$8.02, for a total transaction of C$80,200.00. Insiders sold a total of 28,900 shares of company stock worth $230,688 in the last three months. 25.29% of the stock is owned by corporate insiders.

Stingray Group Company Profile

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.