Stingray Group (TSE:RAY.A) Price Target Raised to C$11.00 at CIBC

Stingray Group (TSE:RAY.A) had its price objective upped by equities researchers at CIBC from C$10.50 to C$11.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 37.50% from the stock’s current price.

RAY.A has been the topic of several other research reports. BMO Capital Markets raised their target price on Stingray Group from C$9.50 to C$10.50 in a research report on Thursday, August 8th. Royal Bank of Canada raised their target price on Stingray Group from C$10.00 to C$11.00 in a research report on Thursday. Finally, National Bankshares raised their target price on Stingray Group from C$9.50 to C$10.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.

Stingray Group Stock Down 1.2 %

RAY.A stock traded down C$0.10 during mid-day trading on Thursday, reaching C$8.00. The company had a trading volume of 76,938 shares, compared to its average volume of 34,495. 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$425.12 million, a price-to-earnings ratio of -27.59, a price-to-earnings-growth ratio of 1.13 and a beta of 1.07. The firm has a fifty day simple moving average of C$7.35 and a 200 day simple moving average of C$7.54. Stingray Group has a fifty-two week low of C$4.88 and a fifty-two week high of C$8.54.

Insider Buying and Selling

In related news, Senior Officer Mario Dubois sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$8.00, for a total transaction of C$60,000.00. Insiders have sold 18,900 shares of company stock worth $150,488 in the last quarter. 25.46% of the stock is owned by insiders.

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.