Stingray Group (TSE:RAY.A) Stock Price Passes Below 200-Day Moving Average - Here's Why

Stingray Group (TSE:RAY.A - Get Free Report)'s stock 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.

Wall Street Analyst Weigh In

RAY.A has been the subject of a number of research analyst reports. CIBC lifted their target price 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 Stingray Group from C$10.00 to C$11.00 in a research note 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 has a market cap of C$387.39 million, a price-to-earnings ratio of -25.14, a P/E/G ratio of 1.13 and a beta of 1.07. The stock has a fifty day simple moving average of C$7.73 and a two-hundred day simple moving average of C$7.64.

Insider Buying and Selling at Stingray Group

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

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.