Erayak Power Solution Group Inc. (NASDAQ:RAYA) Sees Significant Drop in Short Interest

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 24,590 shares, a decrease of 96.8% from the April 15th total of 777,822 shares. Currently, 5.2% of the shares of the stock are sold short. Based on an average trading volume of 86,486 shares, the short-interest ratio is currently 0.3 days.

Erayak Power Solution Group Stock Down 11.9%

NASDAQ:RAYA traded down $0.47 during trading hours on Monday, reaching $3.49. The company’s stock had a trading volume of 37,276 shares, compared to its average volume of 624,682. The firm has a 50-day simple moving average of $5.89 and a 200-day simple moving average of $23.29. 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 has a 1 year low of $3.10 and a 1 year high of $7,370.00.

Analyst Ratings Changes

Several brokerages have issued reports on RAYA. Weiss Ratings reiterated a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Erayak Power Solution Group to a “sell” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Erayak Power Solution Group has a consensus rating of “Sell”.

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 Erayak Power Solution Group Inc. (NASDAQ:RAYA) during 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 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.

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.