Short Interest in Raytech Holding Limited (NASDAQ:RAY) Drops By 33.1%

Raytech Holding Limited (NASDAQ:RAY) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 40,532 shares, a decrease of 33.1% from the February 26th total of 60,587 shares. Based on an average trading volume of 25,014 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Raytech stock. Marex Group plc bought a new stake in Raytech Holding Limited (NASDAQ:RAY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 51,216 shares of the company’s stock, valued at approximately $60,000. Marex Group plc owned about 0.12% of Raytech as of its most recent SEC filing.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Raytech in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Raytech has an average rating of “Sell”.

Raytech Stock Performance

RAY stock traded up $0.01 during midday trading on Friday, reaching $3.77. The stock had a trading volume of 1,181 shares, compared to its average volume of 16,904. The firm has a fifty day simple moving average of $4.21 and a two-hundred day simple moving average of $4.25. Raytech has a 52-week low of $1.40 and a 52-week high of $58.88.

Raytech Company Profile

Raytech Holding Limited company specializes in design, sourcing and wholesale of personal care electrical appliances for international brand owners. Raytech Holding Limited is based in Hong Kong.