Raytech Holding Limited (NASDAQ:RAY) Short Interest Down 48.0% in July

Raytech Holding Limited (NASDAQ:RAY) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 7,497 shares, a decline of 48.0% from the July 15th total of 14,414 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 6,904 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On Raytech

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC increased its holdings in 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 in the last quarter. Marex Group plc bought a new position in shares of Raytech during the 2nd quarter worth approximately $60,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Raytech during the 1st quarter worth approximately $82,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Raytech from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Raytech Price Performance

RAY stock traded down $0.03 during midday trading on Friday, hitting $2.87. The stock had a trading volume of 1,687 shares, compared to its average volume of 7,857. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.36 and a quick ratio of 2.36. The business has a fifty day moving average price of $2.94 and a two-hundred day moving average price of $3.46. Raytech has a 1-year low of $1.40 and a 1-year high of $58.88.

Raytech (NASDAQ:RAY) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.30 earnings per share for the quarter. The business had revenue of $3.86 million for the quarter.

About Raytech

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.