Stingray Group (TSE:RAY.A) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

Stingray Group (TSE:RAY.A)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$15.66 and traded as low as C$13.59. Stingray Group shares last traded at C$14.32, with a volume of 21,983 shares trading hands.

Wall Street Analysts Forecast Growth

RAY.A has been the topic of several recent research reports. Royal Bank Of Canada increased their price target on Stingray Group from C$17.00 to C$18.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Desjardins raised their target price on shares of Stingray Group from C$16.50 to C$18.50 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, National Bank Financial boosted their price target on Stingray Group from C$18.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$17.42.

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 company has a 50 day moving average price of C$15.65 and a 200-day moving average price of C$13.47. The company has a market cap of C$952.49 million, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48.

Stingray Group (TSE:RAY.A) last announced its quarterly earnings results on Tuesday, February 10th. The company reported C$0.38 earnings per share (EPS) for the quarter. Stingray Group had a negative net margin of 5.78% and a negative return on equity of 7.45%. On average, equities analysts expect that Stingray Group will post 1 earnings per share for the current fiscal year.

About Stingray Group

Stingray Group Inc is a music, media, and technology company. The company is a provider of curated direct-to-consumer and B2B services, including audio television channels, radio stations, SVOD content, 4K UHD television channels, karaoke products, digital signage, in-store music, and music apps. It operates through the following segments namely the Broadcasting and commercial music segment and Radio segment. The company generates maximum revenue from the Broadcasting and commercial music segment.