Destiny Media Technologies (OTCMKTS:DSNY) Shares Cross Below 200 Day Moving Average – Here’s Why

Destiny Media Technologies Inc. (OTCMKTS:DSNY)’s stock price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $0.62 and traded as low as $0.36. Destiny Media Technologies shares last traded at $0.36, with a volume of 100 shares.

Destiny Media Technologies Stock Performance

The firm’s fifty day moving average price is $0.57 and its 200 day moving average price is $0.62. The firm has a market cap of $4.13 million, a P/E ratio of -3.89 and a beta of 0.41.

Destiny Media Technologies (OTCMKTS:DSNY) last issued its quarterly earnings results on Tuesday, July 14th. The technology company reported ($0.02) earnings per share (EPS) for the quarter. Destiny Media Technologies had a negative return on equity of 39.01% and a negative net margin of 24.31%. The business had revenue of $1.04 million for the quarter.

About Destiny Media Technologies

Destiny Media Technologies Inc is a Canadian software company that develops digital media distribution and delivery solutions. Based in Vancouver, British Columbia, the company has focused on tools that help media professionals securely distribute, manage and access digital audio and video content.

Its principal product has been Play MPE, a digital music delivery and promotion platform designed for record labels, artists, radio stations and other music-industry participants. The service supports the distribution of pre-release and promotional music to authorized recipients, helping labels and promoters manage digital servicing campaigns and track content delivery.

Destiny Media has also developed Clipstream, a browser-based video technology intended to simplify online video distribution without requiring users to install separate software or browser plug-ins.