Stingray Group (TSE:RAY.A) Reaches New 1-Year Low at $5.05

Stingray Group (TSE:RAY.AGet Rating)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as C$5.05 and last traded at C$5.18, with a volume of 40933 shares changing hands. The stock had previously closed at C$5.36.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RAY.A shares. BMO Capital Markets cut their price target on Stingray Group from C$10.00 to C$8.50 in a report on Thursday, June 9th. National Bankshares dropped their price objective on Stingray Group from C$8.50 to C$7.50 and set an “outperform” rating for the company in a report on Thursday, June 9th. CIBC dropped their price objective on Stingray Group from C$9.50 to C$8.50 in a report on Thursday, June 9th. Finally, Canaccord Genuity Group dropped their price objective on Stingray Group from C$9.00 to C$7.50 in a report on Friday, June 10th.

Stingray Group Trading Down 3.9 %

The company has a debt-to-equity ratio of 147.55, a quick ratio of 0.67 and a current ratio of 0.82. The business has a 50-day simple moving average of C$5.82 and a two-hundred day simple moving average of C$6.30. The stock has a market cap of C$357.06 million and a price-to-earnings ratio of 9.93.

Stingray Group Company Profile

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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.

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