Stingray Group (TSE:RAY.A) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Shares of Stingray Group (TSE:RAY.A) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$15.49 and traded as high as C$15.89. Stingray Group shares last traded at C$15.54, with a volume of 45,454 shares.

Wall Street Analyst Weigh In

RAY.A has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on Stingray Group from C$13.00 to C$19.00 in a research note on Thursday, November 13th. Royal Bank Of Canada raised their price target on Stingray Group from C$17.00 to C$18.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Desjardins boosted their price target on Stingray Group from C$16.50 to C$18.50 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. National Bank Financial upped their price objective on shares of Stingray Group from C$18.00 to C$21.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Finally, Canadian Imperial Bank of Commerce lifted their target price on shares of Stingray Group from C$13.50 to C$16.00 in a research note on Thursday, November 13th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$17.42.

Stingray Group Trading Down 0.5%

The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The stock has a 50-day simple moving average of C$15.49 and a 200 day simple moving average of C$12.94. The company has a market cap of C$1.06 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.13 and a beta of 1.48.

Stingray Group (TSE:RAY.A) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$0.38 earnings per share (EPS) for the quarter. Stingray Group had a negative return on equity of 7.45% and a negative net margin of 5.78%. As a group, equities research analysts predict that Stingray Group will post 1 EPS for the current fiscal year.

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.