Stingray Group (TSE:RAY.A) Price Target Raised to C$11.00 at Royal Bank of Canada

Stingray Group (TSE:RAY.A - Get Free Report) had its price objective lifted by equities researchers at Royal Bank of Canada from C$10.00 to C$11.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Royal Bank of Canada's price target points to a potential upside of 39.24% from the company's current price.

Other analysts have also recently issued reports about the company. National Bankshares upped their price target on Stingray Group from C$9.50 to C$10.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. BMO Capital Markets boosted their price objective on shares of Stingray Group from C$9.50 to C$10.50 in a report on Thursday, August 8th.

Stingray Group Trading Down 2.5 %

Shares of Stingray Group stock traded down C$0.20 during trading on Thursday, reaching C$7.90. 105,304 shares of the company were exchanged, compared to its average volume of 34,626. Stingray Group has a twelve month low of C$4.88 and a twelve month high of C$8.54. The business has a 50-day moving average price of C$7.35 and a 200-day moving average price of C$7.54. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45. The firm has a market capitalization of C$419.81 million, a price-to-earnings ratio of -27.24, a P/E/G ratio of 1.13 and a beta of 1.07.

Insiders Place Their Bets

In other Stingray Group news, Senior Officer Mario Dubois sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$8.00, for a total transaction of C$60,000.00. Insiders sold 18,900 shares of company stock worth $150,488 over the last ninety days. 25.46% of the stock is currently owned by corporate 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.