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

Erayak Power Solution Group Inc. (NASDAQ:RAYA – Get Free Report) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 19,990 shares, a growth of 149.8% from the May 31st total of 8,002 shares. Approximately 4.3% of the company’s shares are sold short. Based on an average daily volume of 78,555 shares, the short-interest ratio is currently 0.3 days.

Erayak Power Solution Group Stock Performance

Shares of Erayak Power Solution Group stock traded up $0.00 on Monday, hitting $2.78. The stock had a trading volume of 13,785 shares, compared to its average volume of 467,903. The company has a quick ratio of 1.62, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. Erayak Power Solution Group has a one year low of $2.53 and a one year high of $7,370.00. The stock’s 50-day simple moving average is $3.49 and its two-hundred day simple moving average is $13.70.

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Erayak Power Solution Group (NASDAQ:RAYA – Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported ($13.59) EPS for the quarter. The company had revenue of $7.06 million for the quarter.

Hedge Funds 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 shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned about 73.03% of Erayak Power Solution Group at the end of the most recent quarter. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RAYA has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a research note on Wednesday. Wall Street Zen raised Erayak Power Solution Group to a “sell” rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Erayak Power Solution Group currently has an average rating of “Sell”.

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Erayak Power Solution Group Company Profile

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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.

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