Ryde Group Ltd. (NYSEAMERICAN:RYDE) Sees Large Decline in Short Interest

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 314,850 shares, a drop of 34.4% from the February 12th total of 479,767 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average trading volume of 189,267 shares, the short-interest ratio is presently 1.7 days. Based on an average trading volume of 189,267 shares, the short-interest ratio is presently 1.7 days. Approximately 0.9% of the company’s stock are sold short.

Hedge Funds Weigh In On Ryde Group

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

Ryde Group Trading Down 6.4%

NYSEAMERICAN:RYDE traded down $0.05 during midday trading on Friday, reaching $0.69. The company had a trading volume of 779,663 shares, compared to its average volume of 5,799,253. Ryde Group has a 12-month low of $0.16 and a 12-month high of $0.89. The stock’s fifty day simple moving average is $0.36 and its 200-day simple moving average is $0.40.

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

About Ryde Group

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.