Erayak Power Solution Group Inc. (NASDAQ:RAYA) Sees Significant Decrease in Short Interest

Erayak Power Solution Group Inc. (NASDAQ:RAYA) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 10,608 shares, a decrease of 56.9% from the April 30th total of 24,590 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average trading volume of 64,502 shares, the short-interest ratio is presently 0.2 days.

Erayak Power Solution Group Stock Up 14.3%

Erayak Power Solution Group stock traded up $0.43 during mid-day trading on Friday, hitting $3.44. The company’s stock had a trading volume of 49,932 shares, compared to its average volume of 41,364. Erayak Power Solution Group has a twelve month low of $3.00 and a twelve month high of $7,370.00. The stock’s fifty day moving average price is $4.24 and its two-hundred day moving average price is $18.76. The company has a current ratio of 2.09, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen raised Erayak Power Solution Group to a “sell” rating in a report on Saturday, April 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC acquired a new position in shares of 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 fund acquired 16,957 shares of the company’s stock, valued at approximately $64,000. SmartHarvest Portfolios LLC owned 1.91% of Erayak Power Solution Group at the end of the most recent quarter. 0.33% of the stock is currently owned by hedge funds and other institutional investors.

Erayak Power Solution Group Company Profile

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.