Short Interest in Raytech Holding Limited (NASDAQ:RAY) Increases By 616.7%

Raytech Holding Limited (NASDAQ:RAY) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 61,172 shares, a growth of 616.7% from the December 31st total of 8,535 shares. Based on an average trading volume of 87,869 shares, the short-interest ratio is currently 0.7 days. Approximately 2.2% of the company’s stock are short sold. Approximately 2.2% of the company’s stock are short sold. Based on an average trading volume of 87,869 shares, the short-interest ratio is currently 0.7 days.

Raytech Stock Up 0.7%

Shares of RAY traded up $0.03 during trading hours on Tuesday, reaching $4.62. 28,961 shares of the stock traded hands, compared to its average volume of 95,272. Raytech has a 52-week low of $1.40 and a 52-week high of $58.88. The company’s 50-day moving average price is $2.31 and its two-hundred day moving average price is $13.53.

Hedge Funds Weigh In On Raytech

A hedge fund recently bought a new stake in Raytech stock. Marex Group plc bought a new stake in shares of Raytech Holding Limited (NASDAQ:RAY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 51,216 shares of the company’s stock, valued at approximately $60,000. Marex Group plc owned 0.12% of Raytech at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Raytech in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Raytech Company Profile

Raytech Holding Limited company specializes in design, sourcing and wholesale of personal care electrical appliances for international brand owners. Raytech Holding Limited is based in Hong Kong.