Ryde Group Ltd. (NYSEAMERICAN:RYDE) Sees Significant Growth in Short Interest

Ryde Group Ltd. (NYSEAMERICAN:RYDE) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 388,553 shares, an increase of 954.4% from the December 31st total of 36,852 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 210,401 shares, the days-to-cover ratio is currently 1.8 days. Based on an average daily volume of 210,401 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.1% of the company’s shares are short sold.

Ryde Group Stock Performance

RYDE stock traded up $0.00 during midday trading on Wednesday, hitting $0.35. 35,511 shares of the company’s stock were exchanged, compared to its average volume of 155,310. Ryde Group has a one year low of $0.16 and a one year high of $0.89. The stock’s fifty day moving average price is $0.38 and its 200-day moving average price is $0.39.

Ryde Group (NYSEAMERICAN:RYDE) last released its quarterly earnings data on Friday, October 24th. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $2.26 million during the quarter.

Institutional Trading of Ryde Group

An institutional investor recently raised its position in Ryde Group stock. Citadel Advisors LLC raised its stake in Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,709 shares of the company’s stock after acquiring an additional 54,272 shares during the quarter. Citadel Advisors LLC owned about 0.21% of Ryde Group worth $27,000 at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, Maxim Group lowered Ryde Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Ryde Group currently has an average rating of “Hold”.

Ryde Group Company Profile

Ryde Group Ltd engages in mobility and quick commerce businesses in Singapore. The Mobility segment provides on-demand and scheduled carpooling and ride-hailing services. The Quick Commerce segment offers real-time on-demand, scheduled, and multi-stop parcel delivery services. The company was founded in 2014 and is headquartered in Singapore.