Stingray Group (TSE:RAY.A) Share Price Crosses Above 50-Day Moving Average – What’s Next?

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$12.92 and traded as high as C$14.04. Stingray Group shares last traded at C$13.96, with a volume of 38,212 shares changing hands.

Wall Street Analyst Weigh In

RAY.A has been the subject of several analyst reports. BMO Capital Markets raised their price objective on Stingray Group from C$13.00 to C$19.00 in a research note on Thursday, November 13th. National Bankshares lifted their price objective on shares of Stingray Group from C$13.00 to C$13.50 and gave the stock an “outperform” rating in a research note on Monday, October 27th. CIBC increased their target price on shares of Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada raised their target price on shares of Stingray Group from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Stingray Group has a consensus rating of “Moderate Buy” and a consensus target price of C$14.33.

Stingray Group Stock Performance

The firm has a 50-day moving average price of C$12.92 and a two-hundred day moving average price of C$11.04. 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 firm has a market capitalization of C$947.98 million, a P/E ratio of 18.37, a P/E/G ratio of 1.13 and a beta of 1.45.

About Stingray Group

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. The company generates maximum revenue from the Broadcasting and commercial music segment.