Stingray Group Inc. (OTCMKTS:STGYF) Sees Large Decrease in Short Interest

Stingray Group Inc. (OTCMKTS:STGYF) was the recipient of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 3,098 shares, a drop of 90.1% from the January 29th total of 31,200 shares. Based on an average daily volume of 1,395 shares, the short-interest ratio is currently 2.2 days. Based on an average daily volume of 1,395 shares, the short-interest ratio is currently 2.2 days.

Stingray Group Price Performance

Shares of OTCMKTS STGYF opened at C$12.39 on Thursday. Stingray Group has a 1-year low of C$5.90 and a 1-year high of C$12.39. The company has a 50-day moving average of C$10.86 and a two-hundred day moving average of C$9.15.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on STGYF shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Stingray Group in a report on Tuesday, February 3rd. BMO Capital Markets restated an “outperform” rating on shares of Stingray Group in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Stingray Group currently has an average rating of “Buy”.

Stingray Group Company Profile

Stingray Group is a Montreal-based music, media and technology company founded in 2007 by Eric Boyko and Alexandre Taillefer. Originally launched as a digital audio service provider, the company has expanded its offerings to encompass a broad suite of music and video content solutions for both consumer and business markets.

The company’s core activities include the creation and distribution of music streams, curated audio channels and video programming. Stingray’s products are delivered through cable and satellite operators, mobile and smart-TV applications, as well as in-store music and digital signage platforms.