Erayak Power Solution Group Inc. (NASDAQ:RAYA) Sees Significant Decrease in Short Interest

Erayak Power Solution Group Inc. (NASDAQ:RAYA) saw a significant decrease in short interest in April. As of April 30th, there was short interest totaling 24,590 shares, a decrease of 96.8% from the April 15th total of 777,822 shares. Based on an average daily volume of 86,486 shares, the short-interest ratio is presently 0.3 days. Approximately 5.2% of the company’s shares are sold short.

Institutional Trading of Erayak Power Solution Group

An institutional investor recently bought a new position in Erayak Power Solution Group stock. Barclays PLC bought a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned 73.03% of Erayak Power Solution Group at the end of the most recent quarter. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RAYA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a research note on Friday, March 27th. Wall Street Zen raised Erayak Power Solution Group to a “sell” rating in a research note on Saturday, April 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Erayak Power Solution Group currently has an average rating of “Sell”.

Erayak Power Solution Group Stock Down 1.8%

RAYA traded down $0.06 during trading hours on Wednesday, hitting $3.29. 12,801 shares of the company’s stock were exchanged, compared to its average volume of 611,247. Erayak Power Solution Group has a 12-month low of $3.10 and a 12-month high of $7,370.00. The firm has a 50 day moving average of $5.59 and a 200 day moving average of $22.24. 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 Company Profile

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.