Stingray Group (TSE:RAY.A - Free Report) had its target price upped by CIBC from C$10.50 to C$11.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.
A number of other research analysts have also weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Stingray Group from C$10.00 to C$11.00 in a research report on Thursday. BMO Capital Markets increased their target price on Stingray Group from C$9.50 to C$10.50 in a research note on Thursday, August 8th. Finally, National Bankshares lifted their price target on Stingray Group from C$9.50 to C$10.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th.
Read Our Latest Stock Report on Stingray Group
Stingray Group Stock Down 2.5 %
TSE:RAY.A traded down C$0.20 during trading hours on Thursday, reaching C$7.90. The company's stock had a trading volume of 105,304 shares, compared to its average volume of 34,626. The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. The company has a market cap of C$419.81 million, a price-to-earnings ratio of -27.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. Stingray Group has a one year low of C$4.88 and a one year high of C$8.54. The business's 50-day moving average is C$7.35 and its 200-day moving average is C$7.54.
Insider Transactions at Stingray Group
In other 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. In the last quarter, insiders have sold 18,900 shares of company stock valued at $150,488. 25.46% of the stock is owned by insiders.
About Stingray Group
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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.
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