Raytech Holding Limited (NASDAQ:RAY) Short Interest Down 66.1% in August

by · The Markets Daily

Raytech Holding Limited (NASDAQ:RAY – Get Free Report) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 2,544 shares, a decline of 66.1% from the July 30th total of 7,497 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,917 shares, the short-interest ratio is currently 0.4 days.

Raytech Stock Performance

Shares of NASDAQ:RAY traded up $0.07 on Friday, reaching $2.75. The company’s stock had a trading volume of 2,220 shares, compared to its average volume of 25,306. The company has a 50-day simple moving average of $2.87 and a 200 day simple moving average of $3.35. Raytech has a 52-week low of $1.40 and a 52-week high of $16.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.36 and a current ratio of 2.36.

Raytech (NASDAQ:RAY – Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $6.68 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Raytech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Check Out Our Latest Report on RAY

Hedge Funds Weigh In On Raytech

Institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new stake in Raytech during the 1st quarter valued at $82,000. Virtu Financial LLC boosted its stake in Raytech by 631.7% during the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock worth $42,000 after buying an additional 73,735 shares during the period. Finally, Marex Group plc bought a new position in Raytech during the second quarter valued at $60,000.

About Raytech

(Get Free Report)

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.

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