Short Interest in Raytech Holding Limited (NASDAQ:RAY) Decreases By 66.1%

Raytech Holding Limited (NASDAQ:RAY) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 2,544 shares, a decline of 66.1% from the July 30th total of 7,497 shares. Based on an average trading volume of 6,917 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the shares of the company are short sold.

Raytech Trading Up 2.6%

RAY traded up $0.07 on Friday, hitting $2.75. 2,220 shares of the stock traded hands, compared to its average volume of 5,565. Raytech has a 52 week low of $1.40 and a 52 week high of $16.00. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average price of $2.87 and a two-hundred day moving average price of $3.35.

Raytech (NASDAQ:RAY) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.30 EPS for the quarter. The firm had revenue of $6.68 million during the quarter.

Institutional Investors Weigh In On Raytech

Institutional investors have recently bought and sold shares of the business. Marex Group plc acquired a new position in shares of Raytech in the 2nd quarter valued at $60,000. Virtu Financial LLC raised its position in Raytech by 631.7% in the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock worth $42,000 after purchasing an additional 73,735 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in Raytech during the first quarter worth about $82,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Raytech from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

About Raytech

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.