Stingray Group (TSE:RAY.A) Share Price Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• Stingray Group's shares (TSE:RAY.A) recently crossed above their fifty-day moving average, reaching a high of C$11.01 before last trading at C$10.54.
• Analyst ratings for Stingray Group have been positive, with price targets raised by multiple firms, including TD Securities and National Bank, reflecting growing confidence in the stock.
• Insider transactions reveal that a senior officer sold 5,000 shares at C$9.95, with insiders having sold a total of 13,100 shares worth approximately C$129,441 in the past three months.

Shares of Stingray Group (TSE:RAY.A - Get Free Report) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$9.71 and traded as high as C$11.01. Stingray Group shares last traded at C$10.54, with a volume of 15,202 shares traded.

Analyst Ratings Changes

A number of research firms have commented on RAY.A. TD Securities lifted their price objective on shares of Stingray Group from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. National Bankshares lifted their price objective on shares of Stingray Group from C$12.00 to C$13.00 and gave the stock an "outperform" rating in a report on Wednesday. Desjardins set a C$11.50 price target on shares of Stingray Group and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, CIBC boosted their price target on shares of Stingray Group from C$11.50 to C$13.50 in a report on Thursday, June 12th.

Stingray Group Trading Down 4.1%

The firm has a market cap of C$560.10 million, a P/E ratio of -36.34, a PEG ratio of 1.13 and a beta of 1.07. The company has a 50 day moving average of C$9.71 and a 200 day moving average of C$8.94. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05.

Insider Transactions at Stingray Group

In other Stingray Group news, Senior Officer Lloyd Perry Feldman sold 5,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of C$9.95, for a total transaction of C$49,750.00. Insiders sold a total of 13,100 shares of company stock worth $129,441 over the last three months. 25.46% of the stock is owned by corporate 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.

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