Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Up 149.8% in June

by · The Markets Daily

Erayak Power Solution Group Inc. (NASDAQ:RAYA – Get Free Report) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 19,990 shares, a growth of 149.8% from the May 31st total of 8,002 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average trading volume of 78,555 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Wednesday, June 24th. Wall Street Zen raised shares of Erayak Power Solution Group to a “sell” rating in a research report on Saturday, April 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Erayak Power Solution Group presently has an average rating of “Sell”.

Get Our Latest Analysis on Erayak Power Solution Group

Institutional Investors Weigh In On Erayak Power Solution Group

An institutional investor recently bought a new stake in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC acquired a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 16,957 shares of the company’s stock, valued at approximately $64,000. SmartHarvest Portfolios LLC owned approximately 1.91% of Erayak Power Solution Group as of its most recent filing with the SEC. 0.33% of the stock is owned by hedge funds and other institutional investors.

Erayak Power Solution Group Stock Up 2.6%

NASDAQ RAYA traded up $0.07 during trading hours on Tuesday, hitting $2.81. The company had a trading volume of 41,474 shares, compared to its average volume of 464,561. The company has a quick ratio of 1.62, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. Erayak Power Solution Group has a 52 week low of $2.53 and a 52 week high of $7,370.00. The firm has a 50 day simple moving average of $3.43 and a 200 day simple moving average of $13.33.

Erayak Power Solution Group (NASDAQ:RAYA – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($13.59) earnings per share for the quarter. The firm had revenue of $7.06 million during the quarter.

Erayak Power Solution Group Company Profile

(Get Free Report)

Erayak Power Solution Group Co, Ltd. is a diversified provider of power electronics products and services, offering a broad portfolio that includes AC/DC power adapters, DC/DC converters, uninterruptible power supplies (UPS), power management modules and charger solutions. Through a combination of proprietary design, engineering services and contract manufacturing, the company supports applications in consumer electronics, industrial automation, telecommunications and renewable energy systems.

The company collaborates closely with OEM and ODM customers to develop customized power solutions that meet specific performance, size and efficiency requirements.

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