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

Stingray Group (TSE:RAY.A) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$8.27 and traded as high as C$8.56. Stingray Group shares last traded at C$8.49, with a volume of 13,685 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RAY.A shares. BMO Capital Markets increased 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. CIBC increased their target price on Stingray Group from C$11.00 to C$11.50 in a report on Friday, February 7th.

Stingray Group Price Performance

The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The stock has a market capitalization of C$451.16 million, a price-to-earnings ratio of -29.28, a P/E/G ratio of 1.13 and a beta of 1.07. The company’s 50-day simple moving average is C$8.27 and its 200 day simple moving average is C$7.82.

Insiders Place Their Bets

In other news, 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. Also, Senior Officer Lloyd Perry Feldman sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of C$8.48, for a total value of C$84,751.00. Insiders have sold 37,800 shares of company stock valued at $311,614 over the last three months. 25.46% of the stock is currently owned by insiders.

About Stingray Group

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.