Ryde Group Ltd. (NYSEAMERICAN:RYDE) Short Interest Update

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 388,553 shares, a growth of 954.4% from the December 31st total of 36,852 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 210,401 shares, the short-interest ratio is presently 1.8 days. Based on an average daily trading volume, of 210,401 shares, the short-interest ratio is presently 1.8 days. Currently, 1.1% of the shares of the company are short sold.

Ryde Group Stock Performance

Shares of Ryde Group stock traded up $0.00 on Wednesday, hitting $0.35. The company had a trading volume of 35,511 shares, compared to its average volume of 155,310. The stock has a 50 day moving average of $0.38 and a 200-day moving average of $0.39. Ryde Group has a 1 year low of $0.16 and a 1 year high of $0.89.

Ryde Group (NYSEAMERICAN:RYDE) last released its quarterly earnings data on Friday, October 24th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $2.26 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ryde Group stock. Citadel Advisors LLC lifted its holdings in Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,709 shares of the company’s stock after purchasing an additional 54,272 shares during the period. Citadel Advisors LLC owned about 0.21% of Ryde Group worth $27,000 at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

Separately, Maxim Group cut Ryde Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ryde Group currently has a consensus rating of “Hold”.

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.