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

Stingray Group (TSE:RAY.A - Get Free Report)'s share 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 changing hands.

Wall Street Analyst Weigh In

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

Stingray Group Stock Performance

The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 154.45. The stock's 50 day moving average price is C$7.73 and its two-hundred day moving average price is C$7.64. The firm 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.

Insider Activity at Stingray Group

In other Stingray Group news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of C$7.50, for a total transaction of C$60,008.00. Also, Senior Officer Mario Dubois sold 4,200 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$8.30, for a total transaction of C$34,860.00. Over the last ninety days, insiders sold 32,800 shares of company stock worth $260,008. 25.46% of the stock is currently owned by 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.