Raytech (NASDAQ:RAY) Shares Down 20% – Here’s What Happened

Raytech Holding Limited (NASDAQ:RAY)’s share price fell 20% during mid-day trading on Thursday . The company traded as low as $2.44 and last traded at $2.44. Approximately 13,370 shares traded hands during mid-day trading, an increase of 132% from the average session volume of 5,765 shares. The stock had previously closed at $3.05.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Raytech from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Raytech Stock Performance

The stock has a 50-day moving average of $3.11 and a 200-day moving average of $3.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Marex Group plc purchased a new position in Raytech in the 2nd quarter valued at approximately $60,000. Virtu Financial LLC lifted its position in shares of Raytech by 631.7% during the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock worth $42,000 after acquiring an additional 73,735 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Raytech during the first quarter worth $82,000.

Raytech Company Profile

Raytech Holding Limited company specializes in design, sourcing and wholesale of personal care electrical appliances for international brand owners. Raytech Holding Limited is based in Hong Kong.