Ryde Group (NYSEAMERICAN:RYDE) Shares Up 0.4% – Should You Buy?

Shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) shot up 0.4% during mid-day trading on Wednesday . The company traded as high as $0.8112 and last traded at $0.7879. Approximately 64,575 shares were traded during trading, a decline of 75% from the average session volume of 261,839 shares. The stock had previously closed at $0.7845.

Ryde Group Trading Up 0.4%

The stock has a fifty day moving average of $0.70 and a 200-day moving average of $0.73.

Ryde Group (NYSEAMERICAN:RYDE) last released its earnings results on Friday, April 24th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of $2.60 million during the quarter.

Insider Activity at Ryde Group

In related news, CEO Junming Terence Zou sold 618,750 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $0.85, for a total value of $525,937.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Ryde Group

An institutional investor recently raised its position in Ryde Group stock. Citadel Advisors LLC lifted its stake in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,709 shares of the company’s stock after acquiring an additional 54,272 shares during the quarter. Citadel Advisors LLC owned approximately 0.21% of Ryde Group worth $27,000 at the end of the most recent reporting period.

About Ryde Group

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.