Ryde Group Ltd. (NYSEAMERICAN:RYDE – Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 803,529 shares, an increase of 83.7% from the September 30th total of 437,370 shares. Based on an average trading volume of 366,537 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.4% of the shares of the company are sold short.
Ryde Group Trading Up 12.3%
Shares of Ryde Group stock opened at $0.64 on Tuesday. Ryde Group has a twelve month low of $0.20 and a twelve month high of $1.55. The company has a 50-day simple moving average of $0.68 and a two-hundred day simple moving average of $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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