Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Update

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 11,416 shares, a decrease of 44.9% from the July 15th total of 20,728 shares. Based on an average daily volume of 11,271 shares, the short-interest ratio is presently 1.0 days. Currently, 2.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. Barclays PLC acquired a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned 73.03% of Erayak Power Solution Group at the end of the most recent quarter. 0.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Erayak Power Solution Group Price Performance

Erayak Power Solution Group stock traded down $0.14 during mid-day trading on Monday, reaching $2.34. The company’s stock had a trading volume of 38,639 shares, compared to its average volume of 377,237. Erayak Power Solution Group has a 12-month low of $2.00 and a 12-month 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. The firm’s fifty day moving average price is $2.76 and its two-hundred day moving average price is $5.11.

Erayak Power Solution Group (NASDAQ:RAYA) last issued its 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 for the quarter.

Erayak Power Solution Group Company Profile

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.