Short Interest in Ryde Group Ltd. (NYSEAMERICAN:RYDE) Declines By 52.2%

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 745,677 shares, a decrease of 52.2% from the May 31st total of 1,560,885 shares. Based on an average daily volume of 389,091 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.2% of the company’s shares are sold short.

Insider Transactions at Ryde Group

In other Ryde Group news, CEO Junming Terence Zou sold 618,750 shares of Ryde Group stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $0.85, for a total transaction of $525,937.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Ryde Group

An institutional investor recently raised its stake in Ryde Group stock. Citadel Advisors LLC grew its holdings in Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,709 shares of the company’s stock after purchasing an additional 54,272 shares during the period. Citadel Advisors LLC owned approximately 0.21% of Ryde Group worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

Ryde Group Price Performance

Ryde Group stock opened at $0.65 on Thursday. The firm has a 50 day simple moving average of $0.94 and a 200-day simple moving average of $0.65. Ryde Group has a 1-year low of $0.20 and a 1-year high of $1.55.

Ryde Group (NYSEAMERICAN:RYDE) last announced its quarterly earnings results on Friday, April 24th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $2.60 million for the quarter.

Ryde Group Company Profile

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.