Stingray Group (TSE:RAY.A) Shares Cross Above Fifty Day Moving Average – What’s Next?

Stingray Group (TSE:RAY.A) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$8.63 and traded as high as C$8.78. Stingray Group shares last traded at C$8.73, with a volume of 4,873 shares trading hands.

Analyst Ratings Changes

A number of research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Stingray Group from C$10.50 to C$11.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. TD Securities lifted their price objective on shares of Stingray Group from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research report on Tuesday, April 29th. Finally, CIBC lifted their price objective on shares of Stingray Group from C$11.00 to C$11.50 in a research report on Friday, February 7th.

Stingray Group Stock Performance

The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The firm has a market capitalization of C$463.91 million, a price-to-earnings ratio of -30.10, a PEG ratio of 1.13 and a beta of 1.07. The firm’s fifty day moving average is C$8.63 and its 200 day moving average is C$8.23.

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.