Stingray Group (TSE:RAY.A) Share Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• Technical breach: Stingray shares crossed below their 50‑day moving average, trading as low as C$13.59 and last at C$14.32 versus a 50‑day MA of C$15.66 on volume of 21,983 shares.
• Analyst sentiment: Four analysts rate the stock a Buy and have raised targets (Desjardins C$18.50, RBC C$18.00, National Bank C$21.00), with a consensus price target of C$17.42.
• Financials and risk: The company carries high leverage (debt‑to‑equity 154.45) and reported a negative net margin (‑5.78%) and negative ROE (‑7.45%), despite a market cap of C$974.26M and a P/E of 22.73.

Shares of Stingray Group (TSE:RAY.A - Get Free Report) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$15.66 and traded as low as C$13.59. Stingray Group shares last traded at C$14.32, with a volume of 21,983 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Desjardins raised their price objective on Stingray Group from C$16.50 to C$18.50 and gave the stock a "buy" rating in a research note on Tuesday, January 20th. Royal Bank Of Canada upped their target price on Stingray Group from C$17.00 to C$18.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Finally, National Bank Financial increased their target price on Stingray Group from C$18.00 to C$21.00 and gave the stock an "outperform" rating in a report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of C$17.42.

Stingray Group Stock Performance

The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. The company has a market cap of C$974.26 million, a P/E ratio of 22.73, a P/E/G ratio of 1.13 and a beta of 1.48. The stock's fifty day moving average price is C$15.66 and its two-hundred day moving average price is C$13.45.

Stingray Group (TSE:RAY.A - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$0.38 earnings per share (EPS) for the quarter. Stingray Group had a negative net margin of 5.78% and a negative return on equity of 7.45%. As a group, equities analysts predict that Stingray Group will post 1 earnings per share for the current year.

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. The company generates maximum revenue from the Broadcasting and commercial music segment.

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