Stingray Group (TSE:RAY.A) Shares Pass Above Fifty Day Moving Average of $6.06

Stingray Group (TSE:RAY.AGet Rating) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$6.06 and traded as high as C$6.23. Stingray Group shares last traded at C$6.17, with a volume of 51,894 shares traded.

Wall Street Analyst Weigh In

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

Stingray Group Price Performance

The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 150.61. The company’s 50 day moving average is C$6.06 and its 200 day moving average is C$6.74. The firm has a market capitalization of C$428.56 million and a price-to-earnings ratio of 13.13.

About Stingray Group

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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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