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

Stingray Group (TSE:RAY.A)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

RAY.A has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on shares of Stingray Group from C$10.00 to C$11.00 in a report on Thursday, November 7th. CIBC lifted their price target on shares of Stingray Group from C$10.50 to C$11.00 in a report on Thursday, November 7th.

Stingray Group Stock Performance

The company has a market capitalization of C$387.39 million, a PE ratio of -25.14, a PEG ratio of 1.13 and a beta of 1.07. The firm has a 50-day moving average of C$7.73 and a two-hundred day 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 Activity at Stingray Group

In related news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of Stingray Group stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of C$7.50, for a total transaction of C$60,008.00. Also, Senior Officer Ratha Khuong sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of C$8.11, for a total value of C$40,569.00. In the last quarter, insiders have sold 32,800 shares of company stock valued at $260,008. 25.46% of the stock is owned by company 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.