Raytech (NASDAQ:RAY) Shares Up 2.7% – Still a Buy?

Shares of Raytech Holding Limited (NASDAQ:RAY) traded up 2.7% during trading on Wednesday . The company traded as high as $2.92 and last traded at $2.9580. 4,974 shares changed hands during trading, a decline of 75% from the average session volume of 19,677 shares. The stock had previously closed at $2.88.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Raytech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Raytech presently has an average rating of “Sell”.

Raytech Stock Performance

The company has a fifty day simple moving average of $3.15 and a 200-day simple moving average of $3.40.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Cetera Investment Advisers bought a new stake in Raytech during the 1st quarter worth approximately $82,000. Marex Group plc bought a new position in shares of Raytech in the second quarter worth approximately $60,000. Finally, Virtu Financial LLC boosted its position in shares of 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 during the period.

Raytech Company Profile

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.