Stingray Group (TSE:RAY.A) Stock Crosses Above 50 Day Moving Average of $5.39

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Stingray Group (TSE:RAY.A) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.39 and traded as high as $6.40. Stingray Group shares last traded at $6.24, with a volume of 168,459 shares changing hands.

RAY.A has been the topic of several research analyst reports. CIBC decreased their price target on shares of Stingray Group from C$8.00 to C$7.00 in a research note on Friday, June 5th. TD Securities increased their price objective on shares of Stingray Group from C$6.00 to C$6.50 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Canaccord Genuity increased their price objective on shares of Stingray Group from C$7.00 to C$7.50 in a report on Tuesday, July 28th.

The company has a current ratio of 0.58, a quick ratio of 0.49 and a debt-to-equity ratio of 135.70. The firm’s 50 day simple moving average is C$5.41 and its 200-day simple moving average is C$4.87. The stock has a market capitalization of $449.59 million and a price-to-earnings ratio of 38.92.

About Stingray Group (TSE:RAY.A)

Stingray Group Inc provides business-to-business multi-platform music, and in-store music and video solutions to businesses and individuals worldwide. The company offers Stingray Music, which delivers music products and services on television (TV), Web, and mobile; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and an on-demand video service; Stingray Brava, a TV channel that provides operas and ballets, classical music performances, and local content; Stingray DJAZZ, a TV channel that features jazz concerts, films, portraits, and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke that offers videos over the Internet and TV for TV service providers, as well as directly to consumers.

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