Short Interest in Ryde Group Ltd. (NYSEAMERICAN:RYDE) Declines By 20.3%

Ryde Group Ltd. (NYSEAMERICAN:RYDE) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 606,755 shares, a decline of 20.3% from the March 15th total of 761,308 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 825,065 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On Ryde Group

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

Ryde Group Price Performance

Ryde Group stock remained flat at $1.49 during trading hours on Friday. 696,864 shares of the company’s stock traded hands, compared to its average volume of 1,762,494. Ryde Group has a 12 month low of $0.16 and a 12 month high of $1.55. The business’s 50-day simple moving average is $0.61 and its 200-day simple moving average is $0.49.

Ryde Group Company Profile

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.