Short Interest in Erayak Power Solution Group Inc. (NASDAQ:RAYA) Declines By 56.9%

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 10,608 shares, a drop of 56.9% from the April 30th total of 24,590 shares. Based on an average daily volume of 64,502 shares, the short-interest ratio is presently 0.2 days. Currently, 2.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. Barclays PLC purchased a new stake in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 quarter. 0.33% of the stock is currently owned by institutional investors and hedge funds.

Erayak Power Solution Group Price Performance

NASDAQ RAYA traded up $0.36 during trading hours on Monday, reaching $3.80. The company’s stock had a trading volume of 24,092 shares, compared to its average volume of 542,548. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.62 and a current ratio of 2.09. The business has a 50-day simple moving average of $4.24 and a 200 day simple moving average of $18.62. Erayak Power Solution Group has a 52 week low of $3.00 and a 52 week high of $7,370.00.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Friday, March 27th. Wall Street Zen raised shares of Erayak Power Solution Group to a “sell” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Erayak Power Solution Group presently has a consensus rating of “Sell”.

About Erayak Power Solution Group

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.