Raytech (NASDAQ:RAY) Shares Down 0.9% – What’s Next?

Shares of Raytech Holding Limited (NASDAQ:RAY) were down 0.9% during trading on Friday . The company traded as low as $2.86 and last traded at $2.8650. Approximately 1,687 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 7,857 shares. The stock had previously closed at $2.89.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Raytech from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Raytech Trading Down 0.9%

The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $2.94 and a 200 day moving average of $3.46.

Raytech (NASDAQ:RAY) last released its quarterly earnings results on Friday, July 31st. The company reported $0.30 earnings per share for the quarter. The company had revenue of $3.86 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RAY. Cetera Investment Advisers purchased a new stake in Raytech during the 1st quarter worth $82,000. Marex Group plc acquired a new stake in shares of Raytech during the second quarter valued at about $60,000. Finally, Virtu Financial LLC grew its stake in shares of Raytech by 631.7% during the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock valued at $42,000 after acquiring an additional 73,735 shares in the last quarter.

About Raytech

Raytech Holding Limited company specializes in design, sourcing and wholesale of personal care electrical appliances for international brand owners. Raytech Holding Limited is based in Hong Kong.