Stingray Group (TSE:RAY.A) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Stingray Group (TSE:RAY.A)’s share price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$7.59 and traded as low as C$7.26. Stingray Group shares last traded at C$7.26, with a volume of 26,220 shares changing hands.

Wall Street Analyst Weigh In

RAY.A has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on shares of Stingray Group from C$9.50 to C$10.50 in a research report on Thursday, August 8th. National Bankshares lifted their price objective on Stingray Group from C$9.50 to C$10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$9.83.

Stingray Group Stock Down 3.2 %

The company’s 50 day moving average price is C$7.59 and its two-hundred day moving average price is C$7.60. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The firm has a market cap of C$385.80 million, a PE ratio of -25.03, a PEG ratio of 1.13 and a beta of 1.07.

Insider Activity at Stingray Group

In related news, Senior Officer Mario Dubois sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of C$8.02, for a total transaction of C$80,200.00. Over the last three months, insiders have sold 28,900 shares of company stock worth $230,688. Corporate insiders own 25.46% of the company’s stock.

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.