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

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a significant 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. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 67,804 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new position in Erayak Power Solution Group stock. Barclays PLC purchased a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned approximately 73.03% of Erayak Power Solution Group at the end of the most recent quarter. 0.33% of the stock is owned by institutional investors and hedge funds.

Erayak Power Solution Group Stock Up 2.2%

Shares of Erayak Power Solution Group stock traded up $0.05 on Friday, hitting $2.33. 8,797 shares of the company’s stock traded hands, compared to its average volume of 357,099. The company has a fifty day moving average of $2.58 and a two-hundred day moving average of $4.45. Erayak Power Solution Group has a one year low of $2.00 and a one year high of $180.84. 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 (NASDAQ:RAYA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($13.59) earnings per share (EPS) for the quarter. The business had revenue of $7.06 million during the quarter.

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.