Stingray Group (TSE:RAY.A) Stock Price Passes Above 50 Day Moving Average – Here’s Why

Stingray Group (TSE:RAY.A)’s share price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$10.63 and traded as high as C$11.53. Stingray Group shares last traded at C$11.14, with a volume of 85,665 shares changing hands.

Analyst Ratings Changes

RAY.A has been the subject of a number of analyst reports. National Bankshares lifted their target price on shares of Stingray Group from C$13.00 to C$13.50 and gave the company an “outperform” rating in a research note on Monday, October 27th. Royal Bank Of Canada upped their price target on Stingray Group from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Stingray Group has a consensus rating of “Moderate Buy” and a consensus target price of C$12.58.

Stingray Group Stock Up 0.1%

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$770.10 million, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.13 and a beta of 1.25. The business has a 50 day moving average price of C$10.63 and a 200 day moving average price of C$9.95.

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.