Stingray Group (TSE:RAY.A) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

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 traded.

Analyst Ratings Changes

Several brokerages have issued reports on RAY.A. CIBC lifted their price target on shares of Stingray Group from C$10.50 to C$11.00 in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price objective 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 stock has a market capitalization of C$387.39 million, a P/E ratio of -25.14, a PEG ratio of 1.13 and a beta of 1.07. The stock’s 50-day simple moving average is C$7.73 and its 200 day simple moving average is C$7.64. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69.

Insider Activity at Stingray Group

In related news, Senior Officer Mario Dubois sold 10,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$7.99, for a total value of C$79,920.00. Also, Senior Officer Ratha Khuong sold 5,000 shares of Stingray Group stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$8.11, for a total transaction of C$40,569.00. In the last 90 days, insiders have sold 32,800 shares of company stock worth $260,008. Insiders own 25.46% of the company’s stock.

Stingray Group Company Profile

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.