Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Up 18.2% in February

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 11,936 shares, a growth of 18.2% from the February 12th total of 10,100 shares. Based on an average daily volume of 104,235 shares, the short-interest ratio is currently 0.1 days. Currently, 1.3% of the shares of the stock are short sold. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 104,235 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC bought a new stake in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,957 shares of the company’s stock, valued at approximately $64,000. SmartHarvest Portfolios LLC owned approximately 1.91% of Erayak Power Solution Group at the end of the most recent quarter. Institutional investors own 0.33% of the company’s stock.

Erayak Power Solution Group Stock Down 1.6%

Shares of Erayak Power Solution Group stock traded down $0.01 during midday trading on Monday, hitting $0.83. The company had a trading volume of 48,180 shares, compared to its average volume of 1,225,711. The company has a 50 day moving average of $1.66 and a 200 day moving average of $4.48. Erayak Power Solution Group has a 52-week low of $0.75 and a 52-week high of $737.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 2.14.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Erayak Power Solution Group presently 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.