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

Erayak Power Solution Group Inc. (NASDAQ:RAYA) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 84,800 shares, an increase of 548.5% from the November 30th total of 13,076 shares. Currently, 9.5% of the shares of the stock are sold short. Based on an average trading volume of 49,611 shares, the short-interest ratio is currently 1.7 days. Based on an average trading volume of 49,611 shares, the short-interest ratio is currently 1.7 days. Currently, 9.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Erayak Power Solution Group

An institutional investor recently bought a new position in Erayak Power Solution Group stock. Barclays PLC purchased a new position in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned about 73.03% of Erayak Power Solution Group at the end of the most recent reporting period. Institutional investors and hedge funds own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen raised Erayak Power Solution Group to a “sell” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Erayak Power Solution Group Stock Performance

Shares of RAYA traded up $0.03 during trading on Thursday, reaching $4.23. 4,483 shares of the company traded hands, compared to its average volume of 35,160. The stock has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $116.46. Erayak Power Solution Group has a twelve month low of $3.13 and a twelve month high of $737.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.61.

Erayak Power Solution Group (NASDAQ:RAYA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported ($1.12) earnings per share for the quarter. The company had revenue of $4.37 million for the quarter.

About Erayak Power Solution Group

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.