Stingray Group (OTCMKTS:STGYF) Shares Up 2.2% – Should You Buy?

Stingray Group Inc. (OTCMKTS:STGYF)’s share price shot up 2.2% during trading on Thursday . The stock traded as high as C$7.26 and last traded at C$7.26. 100 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 918 shares. The stock had previously closed at C$7.11.

Analysts Set New Price Targets

A number of analysts have weighed in on STGYF shares. CIBC reiterated an “outperform” rating on shares of Stingray Group in a research note on Thursday, June 12th. National Bankshares reaffirmed an “outperform” rating on shares of Stingray Group in a research note on Wednesday, July 30th. Royal Bank Of Canada reissued an “outperform” rating on shares of Stingray Group in a research report on Thursday, June 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Stingray Group in a research report on Thursday, June 12th. Finally, Desjardins reiterated a “buy” rating on shares of Stingray Group in a report on Thursday, June 12th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Stingray Group Price Performance

The firm’s fifty day moving average price is C$7.23 and its 200 day moving average price is C$6.72.

About Stingray Group

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.