Ryde Group Ltd. (NYSEAMERICAN:RYDE – Get Free Report) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 803,529 shares, a growth of 83.7% from the September 30th total of 437,370 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average trading volume of 366,537 shares, the days-to-cover ratio is currently 2.2 days.
Ryde Group Trading Up 12.3%
NYSEAMERICAN RYDE traded up $0.07 during mid-day trading on Monday, hitting $0.64. The company’s stock had a trading volume of 33,167 shares, compared to its average volume of 976,755. Ryde Group has a 52-week low of $0.20 and a 52-week high of $1.55. The stock’s fifty day simple moving average is $0.68 and its two-hundred day simple moving average is $0.71.
Ryde Group Company Profile
Ryde Group Limited is a Singapore-based mobility technology company that operates a digital platform for transportation and related services. Through its Ryde app, the company connects passengers with private-hire car and taxi drivers, providing services that include on-demand ride booking, scheduled trips and carpooling.
The company also offers delivery-related services and other mobility products designed to support transportation and logistics needs. Its platform is primarily focused on the Singapore market, where it serves consumers, drivers and delivery partners through mobile applications and technology-enabled services.
Ryde was established in Singapore in 2014 and subsequently expanded its operations through a suite of app-based mobility offerings.
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