Stingray Group (TSE:RAY.A) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

Shares of Stingray Group (TSE:RAY.A) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$15.64 and traded as low as C$14.07. Stingray Group shares last traded at C$14.09, with a volume of 72,616 shares.

Analysts Set New Price Targets

Several equities analysts recently commented on RAY.A shares. Desjardins increased their price objective on shares of Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a research report on Tuesday, January 20th. National Bank Financial boosted their target price on shares of Stingray Group from C$18.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada upped their price target on shares of Stingray Group from C$17.00 to C$18.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Stingray Group presently has a consensus rating of “Buy” and a consensus price target of C$17.42.

Stingray Group Trading Up 2.9%

The company has a 50 day simple moving average of C$15.62 and a two-hundred day simple moving average of C$13.74. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. The firm has a market cap of C$981.75 million, a PE ratio of 22.90, a P/E/G ratio of 1.13 and a beta of 1.48.

Stingray Group (TSE:RAY.A) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$0.38 earnings per share (EPS) for the quarter. Stingray Group had a negative return on equity of 7.45% and a negative net margin of 5.78%. Analysts expect that Stingray Group will post 1 EPS for the current fiscal year.

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. The company generates maximum revenue from the Broadcasting and commercial music segment.