Stingray Group (TSE:RAY.A) Hits New 52-Week High – Should You Buy?

Stingray Group (TSE:RAY.A)’s stock price reached 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 traded. The stock had previously closed at C$8.89.

Analyst Ratings Changes

Several research firms have recently commented on RAY.A. CIBC boosted their target price on shares of Stingray Group from C$11.00 to C$11.50 in a report on Friday. Royal Bank of Canada boosted their target price on Stingray Group from C$10.00 to C$11.00 in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their price target on Stingray Group from C$10.50 to C$11.00 and gave the company a “market perform” rating in a report on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Stingray Group presently has a consensus rating of “Moderate Buy” and an average price target of C$10.70.

Stingray Group Stock Down 2.6 %

The business’s 50 day simple moving average is C$7.71 and its 200 day simple moving average is C$7.69. 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 firm has a market capitalization of C$454.35 million, a PE ratio of -29.48, a PEG ratio of 1.13 and a beta of 1.07.

Insider Buying and Selling

In related news, Senior Officer Lloyd Perry Feldman sold 8,000 shares of the company’s stock in a transaction dated 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 Mathieu Péloquin sold 5,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of C$7.97, for a total transaction of C$39,850.00. Over the last quarter, insiders sold 22,800 shares of company stock worth $180,088. Corporate insiders own 25.46% of the company’s stock.

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.