Stingray Group (TSE:RAY.A) Hits New 12-Month High – Should You Buy?

Stingray Group (TSE:RAY.A)’s stock price hit a new 52-week high on Friday . The company traded as high as C$9.08 and last traded at C$9.03, with a volume of 48986 shares traded. The stock had previously closed at C$8.70.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RAY.A shares. CIBC increased their price target on shares of Stingray Group from C$11.00 to C$11.50 in a research note on Friday, February 7th. Royal Bank of Canada lifted their price target on shares of Stingray Group from C$10.00 to C$11.00 in a report on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on shares of Stingray Group from C$10.50 to C$11.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th.

Stingray Group Trading Up 4.0 %

The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The firm’s 50 day simple moving average is C$7.80 and its two-hundred day simple moving average is C$7.72. The stock has a market cap of C$480.92 million, a P/E ratio of -31.21, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07.

Insider Transactions at Stingray Group

In other Stingray Group news, Senior Officer Mario Dubois sold 19,800 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of C$8.43, for a total value of C$166,854.60. Also, Senior Officer Ratha Khuong sold 5,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of C$8.11, for a total transaction of C$40,569.00. Over the last quarter, insiders sold 52,500 shares of company stock worth $430,864. Insiders own 25.46% of the company’s stock.

Stingray Group Company Profile

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.