Short Interest in Erayak Power Solution Group Inc. (NASDAQ:RAYA) Declines By 83.8%

Erayak Power Solution Group Inc. (NASDAQ:RAYA) was the recipient of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 1,846 shares, a decrease of 83.8% from the July 30th total of 11,416 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 67,804 shares, the short-interest ratio is presently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Erayak Power Solution Group currently has a consensus rating of “Sell”.

Erayak Power Solution Group Stock Down 1.4%

Shares of NASDAQ RAYA traded down $0.03 during mid-day trading on Thursday, reaching $2.24. 4,302 shares of the company traded hands, compared to its average volume of 40,080. Erayak Power Solution Group has a fifty-two week low of $2.00 and a fifty-two week high of $180.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.62 and a current ratio of 2.09. The company’s fifty day moving average is $2.58 and its two-hundred day moving average is $4.45.

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

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 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 16,957 shares of the company’s stock, valued at approximately $64,000. SmartHarvest Portfolios LLC owned about 1.91% of Erayak Power Solution Group as of its most recent filing with the SEC. 0.33% of the stock is owned by hedge funds and other institutional investors.

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.