Destiny Media Technologies Inc. (OTCMKTS:DSNY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Destiny Media Technologies Inc. is a software development company which provides tools that some of the world’s largest media companies use to distribute their content on the Internet. Products include Play MPE, Clipstream and Radio Destiny. The Company develops technologies that allow for the distribution over the Internet of digital media files in either a streaming or digital download format. The technologies are proprietary. The Company operates out of Vancouver, BC, Canada and serves customers predominantly located in the United States and Canada. Destiny operates through its wholly owned subsidiaries, Destiny Software Productions Inc. and MPE Distribution, Inc. The Company has two main product lines: MPE, which enables content to be transferred permanently to authorized recipients, and Clipstream, an analogous to radio or television where content is streamed to the viewer in a transient manner. “

Separately, ValuEngine upgraded shares of Destiny Media Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th.

Destiny Media Technologies (OTCMKTS DSNY) remained flat at $0.21 during mid-day trading on Monday. The company’s stock had a trading volume of 19,600 shares. The company has a market cap of $11.55 million, a PE ratio of 52.50 and a beta of 2.18. Destiny Media Technologies has a 52-week low of $0.13 and a 52-week high of $0.28. The company’s 50 day moving average price is $0.24 and its 200-day moving average price is $0.22.

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About Destiny Media Technologies

Destiny Media Technologies, Inc develops and markets services that enable the secure distribution of digital media content over the Internet. The Company’s services are based around security, watermarking and instant play streaming media technologies. The Company’s products and services include Clipstream Online Video Platform (OVP), Clipstream Online Video Platform and Play MPE.

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