Ryde Group Ltd. (NYSEAMERICAN:RYDE) Sees Large Decrease in Short Interest

Ryde Group Ltd. (NYSEAMERICAN:RYDE) saw a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 606,755 shares, a decrease of 20.3% from the March 15th total of 761,308 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 825,065 shares, the short-interest ratio is currently 0.7 days.

Ryde Group Stock Performance

Shares of RYDE stock traded up $0.26 on Thursday, hitting $1.49. The stock had a trading volume of 1,428,449 shares, compared to its average volume of 1,719,830. The business has a 50 day moving average of $0.59 and a 200 day moving average of $0.48. Ryde Group has a 12-month low of $0.16 and a 12-month high of $1.55.

Institutional Trading of Ryde Group

A hedge fund recently raised its stake in Ryde Group stock. Citadel Advisors LLC increased its stake in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,709 shares of the company’s stock after buying an additional 54,272 shares during the period. Citadel Advisors LLC owned about 0.21% of Ryde Group worth $27,000 as of its most recent SEC filing.

About Ryde Group

Ryde Group Ltd engages in mobility and quick commerce businesses in Singapore. The Mobility segment provides on-demand and scheduled carpooling and ride-hailing services. The Quick Commerce segment offers real-time on-demand, scheduled, and multi-stop parcel delivery services. The company was founded in 2014 and is headquartered in Singapore.