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

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 388,553 shares, an increase of 954.4% from the December 31st total of 36,852 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 210,401 shares, the short-interest ratio is presently 1.8 days. Based on an average daily trading volume, of 210,401 shares, the short-interest ratio is presently 1.8 days. Approximately 1.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Ryde Group

A hedge fund recently raised its stake in Ryde Group stock. Citadel Advisors LLC lifted its stake in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,709 shares of the company’s stock after acquiring an additional 54,272 shares during the period. Citadel Advisors LLC owned 0.21% of Ryde Group worth $27,000 as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lowered Ryde Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ryde Group presently has a consensus rating of “Hold”.

Ryde Group Stock Down 5.7%

Shares of Ryde Group stock traded down $0.02 during trading on Thursday, reaching $0.33. The company’s stock had a trading volume of 27,643 shares, compared to its average volume of 148,427. The business has a 50 day moving average price of $0.38 and a 200-day moving average price of $0.39. Ryde Group has a 12-month low of $0.16 and a 12-month high of $0.89.

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