Erayak Power Solution Group (NASDAQ:RAYA) Shares Down 15% – What’s Next?

Erayak Power Solution Group Inc. (NASDAQ:RAYA)’s stock price was down 15% on Friday. The stock traded as low as $1.00 and last traded at $1.05. Approximately 31,982 shares changed hands during mid-day trading, an increase of 135% from the average daily volume of 13,625 shares. The stock had previously closed at $1.2354.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Erayak Power Solution Group in a research note on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Erayak Power Solution Group Stock Performance

The company has a 50-day simple moving average of $1.84 and a 200 day simple moving average of $5.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.02 and a quick ratio of 1.54.

Erayak Power Solution Group (NASDAQ:RAYA) last posted its earnings results on Wednesday, October 14th. The company reported ($0.61) earnings per share for the quarter. The firm had revenue of $6.09 million for the quarter.

About Erayak Power Solution Group

Erayak Power Solution Group (NASDAQ: RAYA) is a China-based manufacturer and seller of power supply products. The company develops and produces portable power stations, sine-wave and modified-sine-wave inverters, gasoline-powered generators, battery packs, and related chargers and power accessories.

Its products are designed for residential, commercial, outdoor, and emergency backup applications, providing electricity for appliances, electronic devices, tools, and other equipment where grid power is unavailable or unreliable.