Stingray Group Inc. (OTCMKTS:STGYF) Sees Significant Increase in Short Interest

Stingray Group Inc. (OTCMKTS:STGYF) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 32,469 shares, an increase of 68.6% from the December 31st total of 19,260 shares. Based on an average daily volume of 22 shares, the days-to-cover ratio is presently 1,475.9 days. Based on an average daily volume of 22 shares, the days-to-cover ratio is presently 1,475.9 days.

Analysts Set New Price Targets

Separately, National Bankshares reiterated an “outperform” rating on shares of Stingray Group in a research note on Monday, October 27th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Stingray Group Price Performance

Shares of STGYF opened at C$10.75 on Monday. Stingray Group has a twelve month low of C$5.85 and a twelve month high of C$10.98. The stock’s fifty day simple moving average is C$10.54 and its 200 day simple moving average is C$8.62.

About Stingray Group

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.