Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Update

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 10,608 shares, a drop of 56.9% from the April 30th total of 24,590 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average trading volume of 64,502 shares, the short-interest ratio is presently 0.2 days.

Analyst Ratings Changes

RAYA has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Erayak Power Solution Group to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Erayak Power Solution Group has a consensus rating of “Sell”.

Erayak Power Solution Group Stock Performance

NASDAQ:RAYA traded up $0.43 on Friday, hitting $3.44. 49,932 shares of the company’s stock traded hands, compared to its average volume of 41,364. Erayak Power Solution Group has a 1 year low of $3.00 and a 1 year high of $7,370.00. The company has a current ratio of 2.09, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $4.24 and a 200-day moving average price of $18.76.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC bought a new position in Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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 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.