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

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

Ryde Group Price Performance

NYSEAMERICAN:RYDE traded up $0.26 on Thursday, reaching $1.49. 1,428,449 shares of the company’s stock were exchanged, compared to its average volume of 1,719,830. Ryde Group has a 52 week low of $0.16 and a 52 week high of $1.55. The stock has a fifty day simple moving average of $0.59 and a 200-day simple moving average of $0.48.

Hedge Funds Weigh In On Ryde Group

A hedge fund recently raised its stake in Ryde Group stock. Citadel Advisors LLC increased its position in Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,709 shares of the company’s stock after acquiring an additional 54,272 shares during the quarter. Citadel Advisors LLC owned about 0.21% of Ryde Group worth $27,000 at the end of the most recent quarter.

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.