Erayak Power Solution Group Inc. (NASDAQ:RAYA) Sees Large Growth in Short Interest

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 11,936 shares, an increase of 18.2% from the February 12th total of 10,100 shares. Based on an average daily trading volume, of 104,235 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.3% of the company’s stock are short sold. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 104,235 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC purchased a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,957 shares of the company’s stock, valued at approximately $64,000. SmartHarvest Portfolios LLC owned approximately 1.91% of Erayak Power Solution Group as of its most recent SEC filing. Institutional investors own 0.33% of the company’s stock.

Erayak Power Solution Group Stock Performance

Erayak Power Solution Group stock traded down $0.01 during trading hours on Monday, hitting $0.83. The company had a trading volume of 48,180 shares, compared to its average volume of 1,225,711. Erayak Power Solution Group has a one year low of $0.75 and a one year high of $737.00. The firm has a 50-day moving average of $1.66 and a 200 day moving average of $4.48. The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Erayak Power Solution Group Company Profile

Erayak Power Solution Group Co, Ltd. is a diversified provider of power electronics products and services, offering a broad portfolio that includes AC/DC power adapters, DC/DC converters, uninterruptible power supplies (UPS), power management modules and charger solutions. Through a combination of proprietary design, engineering services and contract manufacturing, the company supports applications in consumer electronics, industrial automation, telecommunications and renewable energy systems.

The company collaborates closely with OEM and ODM customers to develop customized power solutions that meet specific performance, size and efficiency requirements.