Stingray Group (TSE:RAY.A) Shares Pass Above 50-Day Moving Average of $4.82

Shares of Stingray Group (TSE:RAY.A) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$4.82 and traded as high as C$5.28. Stingray Group shares last traded at C$5.28, with a volume of 19,936 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on RAY.A shares. Canaccord Genuity Group lowered their price target on Stingray Group from C$8.50 to C$8.00 and set a “buy” rating for the company in a report on Wednesday, October 18th. Desjardins set a C$9.00 price target on Stingray Group and gave the company a “buy” rating in a report on Wednesday, September 13th. Finally, CIBC upped their price target on Stingray Group from C$7.50 to C$8.00 in a report on Thursday, August 10th.

Stingray Group Price Performance

The stock has a market cap of C$269.17 million, a PE ratio of 10.56, a PEG ratio of 1.13 and a beta of 0.93. The company has a 50-day simple moving average of C$4.82 and a 200-day simple moving average of C$5.16. The company has a debt-to-equity ratio of 142.75, a current ratio of 1.10 and a quick ratio of 0.69.

About Stingray Group

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.