Stingray Group (TSE:RAY.A – Free Report) National Bankshares raised its price target from CAD 9.50 to CAD 10.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. The stock is currently rated “outperform.”
Other equities analysts have also issued reports on the stock. CIBC increased their price target on shares of Stingray Group from C$10.00 to C$10.50 and gave the company an outperform rating in a research note on Thursday, June 6th. Royal Bank of Canada increased their price target on shares of Stingray Group from C$9.00 to C$10.00 and gave the stock an outperform rating in a research note on Tuesday, April 30th. Five equities analysts have rated the stock with a buy rating. According to MarketBeat.com, Stingray Group currently has an average buy rating and a consensus price target of C$9.67.
Get our latest analysis on Stingray Group
Stingray Group shares down 6.0%
RAY.A stock opened at C$7.82 on Wednesday. The company’s 50-day average price is C$7.64 and its 200-day average price is C$7.49. The company has a market cap of C$393.03 million, a price to earnings ratio of -39.10, a PEG ratio of 1.13 and a beta of 1.08. Stingray Group has a 52-week low of C$4.21 and a 52-week high of C$8.54. The company has a debt-to-equity ratio of 155.56, a quick ratio of 0.69 and a current ratio of 0.90.
Insider activity
In other Stingray Group news, insider Mavrik Corp. bought 140,000 shares of Stingray Group on Thursday, June 20. The shares were purchased at an average price of C$7.15 per share, for a total value of C$1,001,000.00. In related news, insider Mavrik Corp. bought 140,000 shares of the company’s stock on Thursday, June 20. The shares were purchased at an average price of C$7.15 per share, for a total value of C$1,001,000.00. Also, executive David Purdy bought 100,000 shares of the company’s stock on Friday, June 21. The shares were purchased at an average price of C$7.15 per share, for a total transaction of C$715,000.00. Insiders own 24.33% of the company’s shares.
About Stingray Group
(Get free report)
Stingray Group Inc provides cross-platform B2B music, music and video solutions for businesses and individuals worldwide. The company offers Stingray Music, which provides music products and services on television (TV), the Internet and mobile devices; Stingray Lite TV, a TV channel for pop music videos; Stingray iConcerts, a TV channel and on-demand video service; Stingray Brava, a TV channel offering opera and ballet, classical music performances and local content; Stingray DJAZZ, a TV channel featuring jazz concerts, films, portraits and documentaries; Stingray Ambiance 4K, an ultra-high definition channel; and Stingray Karaoke, which provides video over the Internet and TV to TV service providers and directly to consumers.
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