Stingray Group (TSE:RAY.A) Hits New 52-Week High – Here’s Why

Stingray Group (TSE:RAY.A)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$9.05 and last traded at C$8.83, with a volume of 187595 shares changing hands. The stock had previously closed at C$8.89.

Analyst Ratings Changes

A number of research firms recently commented on RAY.A. Royal Bank of Canada increased their target price on shares of Stingray Group from C$10.00 to C$11.00 in a research report on Thursday, November 7th. CIBC upped their target price on Stingray Group from C$10.50 to C$11.00 in a research report on Thursday, November 7th.

Stingray Group Price 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 company has a market capitalization of C$466.57 million, a PE ratio of -30.28, a P/E/G ratio of 1.13 and a beta of 1.07. The company’s 50-day simple moving average is C$7.70 and its 200-day simple moving average is C$7.68.

Insider Transactions at Stingray Group

In other news, Senior Officer Mathieu Péloquin sold 5,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$7.97, for a total transaction of C$39,850.00. Also, Senior Officer Mario Dubois sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of C$7.99, for a total value of C$79,920.00. Over the last quarter, insiders sold 32,800 shares of company stock worth $260,008. Company insiders own 25.46% of the company’s stock.

About Stingray Group

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.