Stingray Group (TSE:RAY.A) Reaches New 52-Week High – Should You Buy?

Stingray Group (TSE:RAY.A)’s share price hit a new 52-week high on Thursday . The stock traded as high as C$11.45 and last traded at C$11.38, with a volume of 9518 shares traded. The stock had previously closed at C$11.24.

Analyst Ratings Changes

Separately, National Bankshares lifted their target price on shares of Stingray Group from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$12.00.

Stingray Group Trading Down 1.0%

The company’s 50 day moving average price is C$10.26 and its two-hundred day moving average price is C$9.68. 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 stock has a market capitalization of C$783.23 million, a PE ratio of 17.17, a P/E/G ratio of 1.13 and a beta of 1.11.

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.