Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Update

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 19,990 shares, an increase of 149.8% from the May 31st total of 8,002 shares. Currently, 4.3% of the shares of the stock are sold short. Based on an average daily volume of 78,555 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Wednesday. Wall Street Zen raised Erayak Power Solution Group to a “sell” rating in a report on Saturday, April 18th. One investment 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”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. Barclays PLC acquired a new position in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 as of its most recent filing with the Securities and Exchange Commission. 0.33% of the stock is owned by hedge funds and other institutional investors.

Erayak Power Solution Group Stock Up 0.0%

Shares of NASDAQ RAYA traded up $0.00 during mid-day trading on Monday, reaching $2.78. 13,785 shares of the company were exchanged, compared to its average volume of 467,903. Erayak Power Solution Group has a 52 week low of $2.53 and a 52 week high of $7,370.00. 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 company’s 50 day moving average price is $3.49 and its 200 day moving average price is $13.70.

Erayak Power Solution Group (NASDAQ:RAYA) last released its earnings results on Wednesday, April 29th. The company reported ($13.59) EPS for the quarter. The company had revenue of $7.06 million during the quarter.

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.