Raytech Holding Limited (NASDAQ:RAY) Sees Significant Decrease in Short Interest

Raytech Holding Limited (NASDAQ:RAY) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 60,587 shares, a decline of 17.7% from the February 12th total of 73,649 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 13,900 shares, the days-to-cover ratio is currently 4.4 days. Based on an average trading volume of 13,900 shares, the days-to-cover ratio is currently 4.4 days. Approximately 2.2% of the company’s shares are short sold.

Raytech Stock Up 4.2%

Shares of Raytech stock traded up $0.17 during trading on Monday, reaching $4.17. The company’s stock had a trading volume of 24,524 shares, compared to its average volume of 58,968. The company has a 50-day simple moving average of $3.95 and a two-hundred day simple moving average of $4.68. Raytech has a 1-year low of $1.40 and a 1-year high of $58.88.

Institutional Investors Weigh In On Raytech

A hedge fund recently raised its stake in Raytech stock. Virtu Financial LLC raised its holdings in Raytech Holding Limited (NASDAQ:RAY) by 631.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,408 shares of the company’s stock after purchasing an additional 73,735 shares during the quarter. Virtu Financial LLC owned 3.14% of Raytech worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Raytech in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

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.