Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Down 83.8% in August

by · The Cerbat Gem

Erayak Power Solution Group Inc. (NASDAQ:RAYA – Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 1,846 shares, a drop of 83.8% from the July 30th total of 11,416 shares. Based on an average daily volume of 67,804 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.4% of the shares of the company are short sold.

Erayak Power Solution Group Stock Performance

RAYA stock traded up $0.01 during midday trading on Wednesday, reaching $2.27. The company had a trading volume of 2,403 shares, compared to its average volume of 361,385. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 1.62. Erayak Power Solution Group has a 1 year low of $2.00 and a 1 year high of $180.84. The firm has a 50-day moving average price of $2.61 and a 200-day moving average price of $4.56.

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Check Out Our Latest Research Report on Erayak Power Solution Group

Institutional Trading of Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. Barclays PLC bought a new position in Erayak Power Solution Group Inc. (NASDAQ:RAYA – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned about 73.03% of Erayak Power Solution Group at the end of the most recent reporting period. 0.33% of the stock is currently owned by institutional investors.

About Erayak Power Solution Group

(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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