Stingray Group (TSE:RAY.A) Stock Crosses Below 200-Day Moving Average – Here’s Why

Stingray Group (TSE:RAY.A)’s share price 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. CIBC raised their price objective on Stingray Group from C$10.50 to C$11.00 in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Stingray Group from C$10.00 to C$11.00 in a research report on Thursday, November 7th.

Stingray Group Stock Performance

The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. The stock’s 50 day moving average price is C$7.73 and its 200 day moving average price is C$7.64. The company has a market capitalization of C$387.39 million, a P/E ratio of -25.14, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07.

Insider Buying and Selling at Stingray Group

In other news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of Stingray Group stock in a transaction on Friday, December 20th. The shares were 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 on Thursday, November 21st. The stock was sold at an average price of C$8.30, for a total transaction of C$34,860.00. Over the last quarter, insiders have sold 32,800 shares of company stock valued at $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.