Stingray Group (TSE:RAY.A) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Stingray Group (TSE:RAY.A)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.64 and traded as low as C$7.24. Stingray Group shares last traded at C$7.29, with a volume of 16,020 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on RAY.A. CIBC upped their target price on Stingray Group from C$10.50 to C$11.00 in a research report on Thursday, November 7th. Royal Bank of Canada increased their price objective on Stingray Group from C$10.00 to C$11.00 in a report on Thursday, November 7th.

Stingray Group Stock Down 0.5 %

The company has a market cap of C$387.39 million, a price-to-earnings ratio of -25.14, a PEG ratio of 1.13 and a beta of 1.07. The business has a 50-day simple moving average of C$7.73 and a two-hundred day simple moving average of C$7.64. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45.

Insider Buying and Selling

In other news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of Stingray Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of C$7.50, for a total value of C$60,008.00. Also, Senior Officer Mario Dubois sold 4,200 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$8.30, for a total value of C$34,860.00. In the last ninety days, insiders sold 32,800 shares of company stock worth $260,008. 25.46% of the stock is currently owned by insiders.

About Stingray Group

Stingray Group Inc operates as a music, media, and technology company worldwide. The company provides Stingray Music, a multiplatform music service available on television (TV), the internet, and through smartphones and tablets; Calm Radio, a music site for relaxation; Calm Christian, that offers Christian worship music; Qello Concerts by Stingray, an over-the-top streaming service on TV, mobile, and the web; and Stingray DJAZZ, a TV channel for jazz and jazz-related genres.