Erayak Power Solution Group (NASDAQ:RAYA) Shares Up 31.2% – What’s Next?

Erayak Power Solution Group Inc. (NASDAQ:RAYA)’s share price was up 31.2% on Monday . The stock traded as high as $1.03 and last traded at $1.01. Approximately 446,724 shares traded hands during trading, an increase of 20% from the average daily volume of 371,848 shares. The stock had previously closed at $0.77.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Monday, December 29th. 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 Price Performance

The company’s 50 day moving average is $1.78 and its 200-day moving average is $4.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.14 and a quick ratio of 1.61.

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 company had revenue of $4.37 million for the quarter.

Institutional Trading of Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC purchased a new position in Erayak Power Solution Group Inc. (NASDAQ:RAYA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 0.33% of the stock is currently 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.