Ryde Group Ltd. (NYSEAMERICAN:RYDE) Sees Large Increase in Short Interest

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient 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 daily volume of 366,537 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.4% of the company’s shares are sold short.

Ryde Group Stock Performance

NYSEAMERICAN:RYDE traded down $0.04 on Friday, hitting $0.57. 37,231 shares of the stock were exchanged, compared to its average volume of 265,604. The stock has a fifty day moving average of $0.68 and a 200-day moving average of $0.71. Ryde Group has a fifty-two week low of $0.20 and a fifty-two week high of $1.55.

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.