Stingray Group (TSE:RAY.A) Price Target Raised to C$11.00 at Royal Bank of Canada

Stingray Group (TSE:RAY.A) had its price objective lifted by Royal Bank of Canada from C$10.00 to C$11.00 in a research report report published on Thursday morning,BayStreet.CA reports.

A number of other equities analysts have also recently weighed in on RAY.A. National Bankshares upped their price target on Stingray Group from C$9.50 to C$10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. BMO Capital Markets upped their target price on Stingray Group from C$9.50 to C$10.50 in a research report on Thursday, August 8th.

Stingray Group Price Performance

Stingray Group stock traded up C$0.14 during midday trading on Thursday, reaching C$8.04. The company’s stock had a trading volume of 99,005 shares, compared to its average volume of 34,923. The firm has a market capitalization of C$427.25 million, a PE ratio of -27.24, a P/E/G ratio of 1.13 and a beta of 1.07. The company has a debt-to-equity ratio of 154.45, a quick ratio of 0.69 and a current ratio of 1.05. Stingray Group has a fifty-two week low of C$4.88 and a fifty-two week high of C$8.54. The stock’s 50 day simple moving average is C$7.35 and its 200 day simple moving average is C$7.54.

Insiders Place Their Bets

In related news, Senior Officer Mario Dubois sold 7,500 shares of the 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 value of C$60,000.00. In the last quarter, insiders have sold 18,900 shares of company stock worth $150,488. 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.