Erayak Power Solution Group Inc. (NASDAQ:RAYA) Sees Large Decrease in Short Interest

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 11,416 shares, a decline of 44.9% from the July 15th total of 20,728 shares. Based on an average daily volume of 11,271 shares, the days-to-cover ratio is presently 1.0 days. Approximately 2.4% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Erayak Power Solution Group in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC bought a new stake in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the fourth quarter, according to its most recent Form 13F 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 1.91% of Erayak Power Solution Group as of its most recent SEC filing. 0.33% of the stock is owned by institutional investors.

Erayak Power Solution Group Stock Performance

NASDAQ:RAYA traded down $0.14 during trading on Monday, reaching $2.34. The company’s stock had a trading volume of 38,639 shares, compared to its average volume of 377,237. The company has a quick ratio of 1.62, a current ratio of 2.09 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $2.76 and a 200-day moving average of $5.11. Erayak Power Solution Group has a 12 month low of $2.00 and a 12 month high of $180.84.

Erayak Power Solution Group (NASDAQ:RAYA) last released its earnings results on Wednesday, April 29th. The company reported ($13.59) EPS for the quarter. The firm had revenue of $7.06 million during the quarter.

About Erayak Power Solution Group

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.