Erayak Power Solution Group Inc. (NASDAQ:RAYA) Sees Significant Decrease in Short Interest

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 24,590 shares, a decline of 96.8% from the April 15th total of 777,822 shares. Based on an average trading volume of 86,486 shares, the short-interest ratio is presently 0.3 days. Currently, 5.2% of the company’s shares are short sold.

Erayak Power Solution Group Trading Down 2.4%

NASDAQ:RAYA traded down $0.09 on Tuesday, reaching $3.41. The company’s stock had a trading volume of 7,811 shares, compared to its average volume of 617,840. Erayak Power Solution Group has a 12-month low of $3.10 and a 12-month high of $7,370.00. The stock has a 50 day moving average price of $5.69 and a 200 day moving average price of $22.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.09 and a quick ratio of 1.62.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RAYA shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Friday, March 27th. Wall Street Zen raised shares of Erayak Power Solution Group to a “sell” rating in a research note on Saturday, April 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of Erayak Power Solution Group

An institutional investor recently bought a new position in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC purchased a new stake in Erayak Power Solution Group Inc. (NASDAQ:RAYA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 16,957 shares of the company’s stock, valued at approximately $64,000. SmartHarvest Portfolios LLC owned 1.91% of Erayak Power Solution Group as of its most recent filing with the SEC. Institutional investors and hedge funds own 0.33% of the company’s stock.

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.