Ryde Group Ltd. (NYSEAMERICAN:RYDE) Sees Significant Drop in Short Interest

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 36,852 shares, a decrease of 82.3% from the December 15th total of 208,040 shares. Based on an average daily volume of 1,304,018 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.1% of the company’s shares are sold short. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 1,304,018 shares, the days-to-cover ratio is currently 0.0 days.

Ryde Group Stock Down 1.5%

NYSEAMERICAN:RYDE traded down $0.00 during trading hours on Monday, reaching $0.31. 511,533 shares of the stock were exchanged, compared to its average volume of 207,612. Ryde Group has a twelve month low of $0.16 and a twelve month high of $0.89. The business has a 50-day moving average of $0.41 and a two-hundred day moving average of $0.39.

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

Analyst Upgrades and Downgrades

Separately, Maxim Group lowered shares of 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, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Trading of Ryde Group

A hedge fund recently raised its stake in Ryde Group stock. Citadel Advisors LLC grew its holdings in Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,709 shares of the company’s stock after purchasing 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 reporting period.

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.