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

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the recipient of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 11,416 shares, a drop of 44.9% from the July 15th total of 20,728 shares. Approximately 2.4% of the company’s shares are sold short. Based on an average trading volume of 11,271 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Erayak Power Solution Group stock. Barclays PLC acquired a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned 73.03% of Erayak Power Solution Group as of its most recent filing with the Securities & Exchange Commission. 0.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Erayak Power Solution Group Price Performance

Shares of RAYA opened at $2.36 on Wednesday. Erayak Power Solution Group has a 52-week low of $2.00 and a 52-week high of $180.84. The business’s 50 day moving average price is $2.71 and its two-hundred day moving average price is $4.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 1.62.

Erayak Power Solution Group (NASDAQ:RAYA) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($13.59) earnings per share for the quarter. The firm had revenue of $7.06 million for the quarter.

Erayak Power Solution Group Company Profile

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.