Ryde Group Ltd. (NYSEAMERICAN:RYDE) Sees Significant Drop in Short Interest

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totaling 208,040 shares, a decline of 49.5% from the November 30th total of 411,891 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 54,352 shares, the short-interest ratio is currently 3.8 days. Based on an average daily trading volume, of 54,352 shares, the short-interest ratio is currently 3.8 days. Approximately 0.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

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

Ryde Group Stock Down 15.1%

Shares of NYSEAMERICAN RYDE traded down $0.05 on Friday, hitting $0.28. The company’s stock had a trading volume of 127,931 shares, compared to its average volume of 63,905. Ryde Group has a 12-month low of $0.16 and a 12-month high of $0.89. The stock has a 50 day moving average of $0.47 and a 200-day moving average of $0.39.

Ryde Group (NYSEAMERICAN:RYDE) last released its earnings results on Friday, October 24th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $2.26 million during the quarter.

Analyst Ratings Changes

Separately, Maxim Group lowered shares of Ryde Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.