Stingray Group (TSE:RAY.A) Sets New 12-Month High – Should You Buy?

Shares of Stingray Group (TSE:RAY.A) reached a new 52-week high during trading on Friday . The company traded as high as C$8.49 and last traded at C$8.36, with a volume of 131536 shares traded. The stock had previously closed at C$8.38.

Analyst Upgrades and Downgrades

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

Stingray Group Price Performance

The stock’s 50-day moving average price is C$7.68 and its 200 day moving average price is C$7.66. The firm has a market capitalization of C$444.25 million, a price-to-earnings ratio of -28.83, a PEG ratio of 1.13 and a beta of 1.07. The company has a quick ratio of 0.69, a current ratio of 1.05 and a debt-to-equity ratio of 154.45.

Insider Buying and Selling

In other Stingray Group news, Senior Officer Mario Dubois sold 10,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$7.99, for a total transaction of C$79,920.00. Also, Senior Officer Ratha Khuong sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of C$8.11, for a total transaction of C$40,569.00. Over the last ninety days, insiders sold 32,800 shares of company stock worth $260,008. 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.