Raytech Holding Limited (NASDAQ:RAY) Short Interest Down 48.0% in July
by Teresa Graham · The Cerbat GemRaytech Holding Limited (NASDAQ:RAY – Get Free Report) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 7,497 shares, a decline of 48.0% from the July 15th total of 14,414 shares. Based on an average trading volume of 6,904 shares, the short-interest ratio is presently 1.1 days. Approximately 0.1% of the company’s stock are sold short.
Institutional Trading of Raytech
Several hedge funds have recently bought and sold shares of the business. Marex Group plc bought a new stake in Raytech during the 2nd quarter valued at $60,000. Virtu Financial LLC lifted its stake in shares of Raytech by 631.7% in the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock valued at $42,000 after buying an additional 73,735 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Raytech during the first quarter valued at about $82,000.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of Raytech from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.
Read Our Latest Research Report on Raytech
Raytech Stock Down 0.9%
Raytech stock traded down $0.03 during midday trading on Friday, reaching $2.87. The stock had a trading volume of 1,687 shares, compared to its average volume of 7,857. Raytech has a 12 month low of $1.40 and a 12 month high of $58.88. The company has a fifty day moving average price of $2.94 and a two-hundred day moving average price of $3.46. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.36.
Raytech (NASDAQ:RAY – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.30 earnings per share for the quarter. The firm had revenue of $3.86 million for the quarter.
Raytech Company Profile
Raytech Holding Limited company specializes in design, sourcing and wholesale of personal care electrical appliances for international brand owners. Raytech Holding Limited is based in Hong Kong.