Ryvyl (NASDAQ:RVYL) Trading Down 4.6% – Time to Sell?

Ryvyl Inc. (NASDAQ:RVYL)’s share price dropped 4.6% during trading on Friday . The stock traded as low as $1.41 and last traded at $1.46. Approximately 62,700 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 75,603 shares. The stock had previously closed at $1.53.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “neutral” rating on shares of Ryvyl in a research report on Friday, November 15th.

Ryvyl Trading Down 4.6 %

The firm has a market capitalization of $10.80 million, a price-to-earnings ratio of -0.17 and a beta of 4.28. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.80. The firm’s 50 day moving average is $1.62 and its 200 day moving average is $1.52.

Institutional Investors Weigh In On Ryvyl

A hedge fund recently bought a new stake in Ryvyl stock. Renaissance Technologies LLC purchased a new stake in shares of Ryvyl Inc. (NASDAQ:RVYL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,424 shares of the company’s stock, valued at approximately $60,000. Renaissance Technologies LLC owned 0.64% of Ryvyl at the end of the most recent reporting period. 17.37% of the stock is currently owned by hedge funds and other institutional investors.

About Ryvyl

Ryvyl Inc, a technology company, engages in the development, marketing, and sale of blockchain-based payment solutions in North America, Europe, and Asia. The company's blockchain-based systems facilitate, record, and store a volume of tokenized assets representing cash or data on a blockchain-based ledger.