Stingray Group (TSE:RAY.A) Hits New 12-Month High – Still a Buy?

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

Wall Street Analysts Forecast Growth

RAY.A has been the subject of a number of recent research reports. CIBC lifted their price objective on Stingray Group from C$10.50 to C$11.00 in a research note on Thursday, November 7th. Royal Bank of Canada lifted their price target on Stingray Group from C$10.00 to C$11.00 in a research report on Thursday, November 7th.

Stingray Group Stock Down 1.2 %

The company has a debt-to-equity ratio of 154.45, a current ratio of 1.05 and a quick ratio of 0.69. 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 business’s 50 day simple moving average is C$7.70 and its 200 day simple moving average is C$7.68.

Insider Activity at Stingray Group

In other Stingray Group news, Senior Officer Ratha Khuong sold 5,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of C$8.11, for a total transaction of C$40,569.00. Also, Senior Officer Mario Dubois sold 4,200 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$8.30, for a total transaction of C$34,860.00. In the last ninety days, insiders have 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.