Raytech (NASDAQ:RAY) Shares Down 0.9% – Here’s What Happened

Shares of Raytech Holding Limited (NASDAQ:RAY) were down 0.9% on Friday . The stock traded as low as $2.86 and last traded at $2.8650. Approximately 1,687 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 7,857 shares. The stock had previously closed at $2.89.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Raytech from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Raytech Price Performance

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 firm’s fifty day moving average price is $2.94 and its 200 day moving average price is $3.46.

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

Institutional Trading of Raytech

A number of hedge funds have recently bought and sold shares of the stock. Marex Group plc bought a new stake in Raytech during the 2nd quarter valued at $60,000. Virtu Financial LLC raised its position in shares of Raytech by 631.7% in the 3rd quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock worth $42,000 after acquiring an additional 73,735 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Raytech in the 1st quarter worth $82,000.

Raytech Company Profile

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.