Erayak Power Solution Group Inc. (NASDAQ:RAYA) Short Interest Down 41.0% in January

Erayak Power Solution Group Inc. (NASDAQ:RAYA) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 47,139 shares, a drop of 41.0% from the January 15th total of 79,922 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average trading volume of 4,374,929 shares, the short-interest ratio is presently 0.0 days. Based on an average trading volume of 4,374,929 shares, the short-interest ratio is presently 0.0 days. Currently, 5.3% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Erayak Power Solution Group presently has an average rating of “Sell”.

Institutional Investors Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC purchased a new stake in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 at the end of the most recent quarter. Institutional investors own 0.33% of the company’s stock.

Erayak Power Solution Group Trading Down 2.4%

RAYA stock opened at $0.90 on Friday. Erayak Power Solution Group has a twelve month low of $0.82 and a twelve month high of $737.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.61. The company’s 50 day moving average is $3.10 and its two-hundred day moving average is $6.65.

Erayak Power Solution Group (NASDAQ:RAYA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported ($1.12) EPS for the quarter. The business had revenue of $4.37 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.