Ryde Group (NYSEAMERICAN:RYDE) Stock Price Down 4.8% – Here’s What Happened

Ryde Group Ltd. (NYSEAMERICAN:RYDE) shares fell 4.8% on Thursday . The stock traded as low as $0.2535 and last traded at $0.2665. 33,655 shares were traded during trading, a decline of 85% from the average session volume of 225,952 shares. The stock had previously closed at $0.28.

Analyst Upgrades and Downgrades

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

Ryde Group Stock Performance

The stock’s 50 day moving average is $0.31 and its two-hundred day moving average is $0.38.

Ryde Group (NYSEAMERICAN:RYDE) last posted its earnings results on Friday, October 24th. The company reported ($0.06) EPS for the quarter. The company had revenue of $2.26 million for the quarter.

Institutional Trading of Ryde Group

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

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.