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

Erayak Power Solution Group Inc. (NASDAQ:RAYA) saw a large increase in short interest in 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. Based on an average daily volume of 49,611 shares, the days-to-cover ratio is currently 1.7 days. Currently, 9.5% of the company’s stock are short sold. Currently, 9.5% of the company’s stock are short sold. Based on an average daily volume of 49,611 shares, the days-to-cover ratio is currently 1.7 days.

Erayak Power Solution Group Price Performance

Shares of NASDAQ RAYA traded up $0.03 during mid-day trading on Wednesday, reaching $4.23. The company had a trading volume of 4,483 shares, compared to its average volume of 102,597. The company has a current ratio of 2.14, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. Erayak Power Solution Group has a twelve month low of $3.13 and a twelve month high of $737.00. The stock’s 50 day moving average is $4.29 and its 200-day moving average is $117.25.

Erayak Power Solution Group (NASDAQ:RAYA) last issued its earnings results on Tuesday, December 2nd. The company reported ($1.12) EPS for the quarter. The business had revenue of $4.37 million during the quarter.

Hedge Funds Weigh In On Erayak Power Solution Group

An institutional investor recently bought a new position in Erayak Power Solution Group stock. Barclays PLC bought a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Monday. Wall Street Zen upgraded Erayak Power Solution Group to a “sell” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.