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

Key Points

• Stingray Group's shares surpassed their 50-day moving average of C$10.19, trading at C$10.20 with a total volume of 59,307 shares.
• Equities research analysts have raised price targets for Stingray Group's stock, with CIBC increasing its target from C$11.50 to C$13.50, while three analysts rate it as a "Buy" and one as "Hold."
• Insider transactions saw Senior Officer Lloyd Perry Feldman selling 5,000 shares at C$9.95, part of a total of 13,100 shares sold by insiders in the last 90 days.

Stingray Group (TSE:RAY.A - Get Free Report)'s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$10.19 and traded as high as C$10.25. Stingray Group shares last traded at C$10.20, with a volume of 59,307 shares.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Desjardins set a C$11.50 price target on shares of Stingray Group and gave the company a "buy" rating in a research report on Wednesday, June 11th. CIBC boosted their target price on Stingray Group from C$11.50 to C$13.50 in a research report on Thursday, June 12th. Finally, National Bankshares boosted their target price on Stingray Group from C$12.00 to C$13.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Stingray Group currently has an average rating of "Moderate Buy" and an average target price of C$12.00.

Stingray Group Stock Down 0.6%

The stock has a market capitalization of C$676.93 million, a P/E ratio of 15.15, a P/E/G ratio of 1.13 and a beta of 1.10. The firm's fifty day moving average is C$10.18 and its 200-day moving average is C$9.35. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45.

Insiders Place Their Bets

In other news, Senior Officer Lloyd Perry Feldman sold 5,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of C$9.95, for a total value of C$49,750.00. Insiders own 25.46% of the company's stock.

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.