Short Interest in Stingray Group Inc. (OTCMKTS:STGYF) Drops By 90.1%

Stingray Group Inc. (OTCMKTS:STGYF) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 3,098 shares, a decrease of 90.1% from the January 29th total of 31,200 shares. Based on an average daily trading volume, of 1,395 shares, the days-to-cover ratio is presently 2.2 days. Based on an average daily trading volume, of 1,395 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

Several research analysts have recently commented on STGYF shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Stingray Group in a report on Tuesday, February 3rd. BMO Capital Markets reiterated an “outperform” rating on shares of Stingray Group in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Stingray Group currently has a consensus rating of “Buy”.

Stingray Group Price Performance

OTCMKTS:STGYF remained flat at C$12.39 during mid-day trading on Wednesday. The company’s 50 day simple moving average is C$10.83 and its two-hundred day simple moving average is C$9.13. Stingray Group has a one year low of C$5.90 and a one year high of C$12.39.

Stingray Group Company Profile

Stingray Group is a Montreal-based music, media and technology company founded in 2007 by Eric Boyko and Alexandre Taillefer. Originally launched as a digital audio service provider, the company has expanded its offerings to encompass a broad suite of music and video content solutions for both consumer and business markets.

The company’s core activities include the creation and distribution of music streams, curated audio channels and video programming. Stingray’s products are delivered through cable and satellite operators, mobile and smart-TV applications, as well as in-store music and digital signage platforms.