Stingray Group (TSE:RAY.A) Shares Pass Above 50 Day Moving Average – Time to Sell?

Shares of Stingray Group (TSE:RAY.A) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$8.27 and traded as high as C$8.56. Stingray Group shares last traded at C$8.49, with a volume of 13,685 shares.

Analyst Upgrades and Downgrades

RAY.A has been the topic of a number of recent research reports. CIBC lifted their target price on Stingray Group from C$11.00 to C$11.50 in a research report on Friday, February 7th. BMO Capital Markets raised their price target on shares of Stingray Group from C$10.50 to C$11.00 and gave the stock a “market perform” rating in a research note on Friday, February 7th.

Stingray Group Trading Up 1.7 %

The stock has a market cap of C$451.16 million, a P/E ratio of -29.28, a PEG ratio of 1.13 and a beta of 1.07. 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 business’s 50 day simple moving average is C$8.27 and its 200 day simple moving average is C$7.82.

Insider Activity

In related news, Senior Officer Mario Dubois sold 19,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of C$8.43, for a total value of C$166,854.60. Also, Senior Officer Lloyd Perry Feldman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of C$8.48, for a total transaction of C$84,751.00. Over the last 90 days, insiders sold 37,800 shares of company stock worth $311,614. Insiders own 25.46% of the company’s stock.

Stingray Group Company Profile

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.