Ryde Group (NYSEAMERICAN:RYDE) Trading 1.7% Higher – Time to Buy?

Ryde Group Ltd. (NYSEAMERICAN:RYDE) shares were up 1.7% during trading on Wednesday . The company traded as high as $0.7280 and last traded at $0.7146. 37,444 shares were traded during trading, a decline of 67% from the average daily volume of 112,484 shares. The stock had previously closed at $0.7024.

Ryde Group Trading Down 6.1%

The stock has a 50 day moving average of $0.72 and a 200-day moving average of $0.78.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Ryde Group stock. Citadel Advisors LLC boosted its stake in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,709 shares of the company’s stock after buying an additional 54,272 shares during the quarter. Citadel Advisors LLC owned approximately 0.21% of Ryde Group worth $27,000 as of its most recent SEC filing.

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.