Raytech (NASDAQ:RAY) Shares Down 4% – What’s Next?

Raytech Holding Limited (NASDAQ:RAY)’s share price was down 4% during mid-day trading on Tuesday . The company traded as low as $2.76 and last traded at $3.10. Approximately 11,649 shares traded hands during mid-day trading, an increase of 47% from the average daily volume of 7,909 shares. The stock had previously closed at $3.23.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Raytech from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Raytech presently has a consensus rating of “Sell”.

Raytech Price Performance

The business’s 50 day moving average is $3.31 and its two-hundred day moving average is $3.27.

Institutional Investors Weigh In On Raytech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC raised its stake in Raytech by 631.7% in the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock valued at $42,000 after purchasing an additional 73,735 shares in the last quarter. Marex Group plc purchased a new stake in Raytech in the second quarter valued at approximately $60,000. Finally, Cetera Investment Advisers purchased a new stake in Raytech in the first quarter valued at approximately $82,000.

Raytech Company Profile

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.