Stingray Group (TSE:RAY.A) Share Price Passes Below Fifty Day Moving Average - Here's What Happened

Key Points

• Stingray shares slipped below their 50-day moving average, trading as low as C$14.51 and last at C$14.85 versus the 50‑day MA of C$15.50.
• Analysts have raised price targets and maintain a consensus Buy rating, with an average target of C$17.42 and individual targets up to C$21.00.
• Despite a market cap of C$1.01B and a P/E of 23.6, the company shows profitability and leverage concerns—negative net margin (−5.78%), negative ROE (−7.45%) and a high debt‑to‑equity ratio of 154.45.

Stingray Group (TSE:RAY.A - Get Free Report) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$15.50 and traded as low as C$14.51. Stingray Group shares last traded at C$14.85, with a volume of 13,123 shares changing hands.

Analysts Set New Price Targets

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

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 business's 50-day moving average is C$15.50 and its two-hundred day moving average is C$13.95. The company has a market capitalization of C$1.01 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48.

Stingray Group (TSE:RAY.A - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported C$0.38 earnings per share 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, analysts predict that Stingray Group will post 1 earnings per share for the current year.

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

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