Erayak Power Solution Group (NASDAQ:RAYA) Announces Earnings Results

Erayak Power Solution Group (NASDAQ:RAYA) announced its quarterly earnings results on Wednesday. The company reported ($0.61) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $6.09 million for the quarter.

Erayak Power Solution Group Price Performance

Shares of NASDAQ:RAYA opened at $1.45 on Thursday. Erayak Power Solution Group has a 1 year low of $1.33 and a 1 year high of $71.00. The company’s 50 day simple moving average is $2.11 and its 200 day simple moving average is $2.98.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Erayak Power Solution Group Company Profile

Erayak Power Solution Group Inc is a China-based power equipment company that designs, develops, manufactures and sells power supply products. Its product portfolio includes portable power stations, gasoline generators, inverter products, battery products and smart battery chargers for residential, recreational and commercial applications.

The company sells products under the Erayak brand and also provides products for original equipment manufacturing and private-label customers. Its products are distributed through e-commerce platforms, retailers and distributors, with sales serving customers in China and international markets, including North America and Europe.

Erayak was established in 2010 and is headquartered in Wenzhou, Zhejiang Province, China.