Erayak Power Solution Group Inc. (NASDAQ:RAYA) Shares Shorted: Short Interest Up 2,388.7% in September

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 45,518 shares, a growth of 2,388.7% from the August 31st total of 1,829 shares. Based on an average daily volume of 272,178 shares, the short-interest ratio is presently 0.2 days. Approximately 9.6% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Erayak Power Solution Group Trading Down 1.0%

Shares of RAYA opened at $1.92 on Friday. The company’s fifty day moving average is $2.30 and its two-hundred day moving average is $3.52. Erayak Power Solution Group has a fifty-two week low of $1.65 and a fifty-two week high of $112.20. The company has a current ratio of 2.09, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10.

Erayak Power Solution Group Company Profile

Erayak Power Solution Group Inc is a China-based provider of power supply products and related solutions. Through its operating subsidiaries, the company designs, develops, manufactures and sells equipment intended for residential, commercial and outdoor use.

Its product portfolio includes portable power stations, gasoline-powered generators, variable-frequency generators, battery products and smart chargers. Erayak also develops customized power-related products for customers and markets its offerings under its own brands and through third-party sales channels.

Founded in 2010, the company serves customers in China and international markets through online and other distribution channels.