Stingray Group (TSE:RAY.A) Stock Crosses Above 50 Day Moving Average of $7.51

Shares of Stingray Group (TSE:RAY.A) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$7.51 and traded as high as C$7.66. Stingray Group shares last traded at C$7.66, with a volume of 16,919 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on RAY.A. BMO Capital Markets boosted their price objective on shares of Stingray Group from C$7.00 to C$9.50 in a research report on Thursday, February 8th. Desjardins boosted their price target on shares of Stingray Group from C$9.00 to C$10.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. CIBC raised their price objective on shares of Stingray Group from C$8.00 to C$10.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Finally, Royal Bank of Canada upped their target price on Stingray Group from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th.

Stingray Group Stock Performance

The company has a market capitalization of C$375.65 million, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The company’s 50 day moving average is C$7.52 and its 200-day moving average is C$6.21. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 134.69.

Stingray Group Company Profile

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.