Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Down 41.0% in January

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the recipient of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 47,139 shares, a drop of 41.0% from the January 15th total of 79,922 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average daily volume of 4,374,929 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 4,374,929 shares, the short-interest ratio is currently 0.0 days. Approximately 5.3% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Erayak Power Solution Group Price Performance

Shares of Erayak Power Solution Group stock traded down $0.00 during midday trading on Friday, reaching $0.92. 3,451,307 shares of the company’s stock traded hands, compared to its average volume of 2,463,766. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. Erayak Power Solution Group has a 52 week low of $0.82 and a 52 week high of $737.00. The company’s 50 day simple moving average is $3.04 and its 200 day simple moving average is $6.35.

Erayak Power Solution Group (NASDAQ:RAYA) last posted its earnings results on Tuesday, December 2nd. The company reported ($1.12) EPS for the quarter. The business had revenue of $4.37 million for the quarter.

Institutional Investors Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. Barclays PLC bought a new position in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned 73.03% of Erayak Power Solution Group as of its most recent SEC filing. Institutional investors and hedge funds own 0.33% of the company’s stock.

About Erayak Power Solution Group

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.