Stingray Group (TSE:RAY.A) Share Price Crosses Below 50-Day Moving Average of $7.58

Stingray Group (TSE:RAY.A - Get Free Report) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$7.58 and traded as low as C$7.41. Stingray Group shares last traded at C$7.45, with a volume of 42,780 shares traded.

Wall Street Analysts Forecast Growth

RAY.A has been the subject of several research analyst reports. CIBC upped their price objective on shares of Stingray Group from C$8.00 to C$10.00 and gave the company an "outperform" rating in a research note on Thursday, February 8th. Royal Bank of Canada upped their target price on Stingray Group from C$9.00 to C$10.00 and gave the company an "outperform" rating in a research report on Tuesday, April 30th. Desjardins lifted their price target on Stingray Group from C$9.00 to C$10.00 and gave the stock a "buy" rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets boosted their price objective on Stingray Group from C$7.00 to C$9.50 in a research note on Thursday, February 8th.

Stingray Group Stock Performance

The stock's fifty day simple moving average is C$7.58 and its 200-day simple moving average is C$6.49. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 134.69. The company has a market capitalization of C$386.75 million, a PE ratio of 14.45, a PEG ratio of 1.13 and a beta of 1.11.

Stingray Group Company Profile

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.