Ryde Group Ltd. (NYSEAMERICAN:RYDE) Stock Short Interest Jumps 91.6%

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 437,370 shares, a growth of 91.6% from the September 15th total of 228,301 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 1,309,509 shares, the short-interest ratio is currently 0.3 days.

Ryde Group Stock Up 1.4%

Shares of NYSEAMERICAN RYDE traded up $0.01 during midday trading on Wednesday, reaching $0.70. The stock had a trading volume of 208,303 shares, compared to its average volume of 1,033,392. Ryde Group has a twelve month low of $0.20 and a twelve month high of $1.55. The company’s 50 day moving average price is $0.74 and its 200 day moving average price is $0.83.

About Ryde Group

Ryde Group Ltd. is a Singapore-based technology company that operates a mobility platform connecting passengers with private-hire and taxi drivers. Through its Ryde application, users can book point-to-point transportation and access related services through a digital platform.

The company also provides delivery-related services, including on-demand delivery solutions for individuals and businesses. Its platform is primarily focused on serving the Singapore market, where it competes in the ride-hailing, transportation, and mobility-services sectors.

Ryde was founded in Singapore and developed its business around carpooling and ride-booking services before expanding into a broader mobility platform.