Short Interest in Ryde Group Ltd. (NYSEAMERICAN:RYDE) Drops By 82.3%

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totaling 36,852 shares, a decline of 82.3% from the December 15th total of 208,040 shares. Based on an average daily trading volume, of 1,304,018 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,304,018 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ryde Group stock. Citadel Advisors LLC lifted its holdings in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,709 shares of the company’s stock after acquiring an additional 54,272 shares during the period. Citadel Advisors LLC owned 0.21% of Ryde Group worth $27,000 at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, Maxim Group downgraded Ryde Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Ryde Group Stock Down 0.7%

Ryde Group stock traded down $0.00 during trading on Tuesday, reaching $0.30. The stock had a trading volume of 86,393 shares, compared to its average volume of 244,212. Ryde Group has a 52-week low of $0.16 and a 52-week high of $0.89. The business has a 50 day moving average price of $0.41 and a 200 day moving average price of $0.39.

Ryde Group (NYSEAMERICAN:RYDE) last announced its quarterly earnings data on Friday, October 24th. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $2.26 million for the quarter.

About Ryde Group

Ryde Group Ltd engages in mobility and quick commerce businesses in Singapore. The Mobility segment provides on-demand and scheduled carpooling and ride-hailing services. The Quick Commerce segment offers real-time on-demand, scheduled, and multi-stop parcel delivery services. The company was founded in 2014 and is headquartered in Singapore.