Stingray Group (TSE:RAY.A) Shares Cross Below 50 Day Moving Average of $5.23

Stingray Group (TSE:RAY.A – Get Free Report) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$5.23 and traded as low as C$4.95. Stingray Group shares last traded at C$5.18, with a volume of 49,115 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Stingray Group from C$8.00 to C$8.50 in a research note on Thursday, June 8th. BMO Capital Markets cut their target price on Stingray Group from C$8.00 to C$7.00 in a research note on Thursday, June 8th.

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Stingray Group Stock Performance

The firm’s fifty day simple moving average is C$5.23 and its 200 day simple moving average is C$5.62. The company has a debt-to-equity ratio of 144.01, a current ratio of 0.86 and a quick ratio of 0.69. The company has a market capitalization of C$264.08 million, a price-to-earnings ratio of 12.05, a PEG ratio of 1.13 and a beta of 0.96.

Stingray Group Company Profile

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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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