Raytech (NASDAQ:RAY) Shares Down 9.1% – Here’s Why
by Sarita Garza · The Markets DailyRaytech Holding Limited (NASDAQ:RAY – Get Free Report) shares traded down 9.1% during mid-day trading on Wednesday . The company traded as low as $3.85 and last traded at $3.99. 88,040 shares changed hands during mid-day trading, an increase of 427% from the average session volume of 16,704 shares. The stock had previously closed at $4.39.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Raytech in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.
Get Our Latest Analysis on Raytech
Raytech Stock Down 2.9%
The company’s fifty day simple moving average is $3.95 and its two-hundred day simple moving average is $5.02.
Hedge Funds Weigh In On Raytech
An institutional investor recently bought a new position in Raytech stock. Marex Group plc purchased a new stake in Raytech Holding Limited (NASDAQ:RAY – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 51,216 shares of the company’s stock, valued at approximately $60,000. Marex Group plc owned 0.12% of Raytech at the end of the most recent reporting period.
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.