Stingray Group (TSE:RAY.A) Shares Pass Above 50 Day Moving Average - Here's Why

Stingray Group (TSE:RAY.A - Get Free Report)'s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$8.50 and traded as high as C$8.82. Stingray Group shares last traded at C$8.78, with a volume of 24,493 shares.

Wall Street Analyst Weigh In

RAY.A has been the subject of a number of research analyst reports. TD Securities raised their price target on Stingray Group from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 29th. Desjardins set a C$11.50 price target on Stingray Group and gave the stock a "buy" rating in a research note on Wednesday. Finally, CIBC raised their price target on Stingray Group from C$11.50 to C$13.50 in a research note on Thursday.

Stingray Group Trading Down 1.3%

The stock has a 50 day simple moving average of C$8.58 and a 200-day simple moving average of C$8.32. The firm has a market capitalization of C$518.65 million, a P/E ratio of -33.66, a P/E/G 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.

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.