Stingray Group (TSE:RAY.A) Shares Pass Below 200 Day Moving Average – Time to Sell?

Shares of Stingray Group (TSE:RAY.A) passed 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 trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Stingray Group from C$10.00 to C$11.00 in a report on Thursday, November 7th. CIBC increased their price objective on Stingray Group from C$10.50 to C$11.00 in a research note on Thursday, November 7th.

Stingray Group Trading Down 0.5 %

The firm has a market cap of C$387.39 million, a PE ratio of -25.14, a P/E/G ratio of 1.13 and a beta of 1.07. 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 business has a fifty day moving average price of C$7.73 and a 200 day moving average price of C$7.64.

Insider Activity at Stingray Group

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

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.