Erayak Power Solution Group (NASDAQ:RAYA) Releases Quarterly Earnings Results

Erayak Power Solution Group (NASDAQ:RAYA) announced its quarterly earnings data on Wednesday. The company reported ($0.61) EPS for the quarter, FiscalAI reports. The company had revenue of $6.09 million for the quarter.

Erayak Power Solution Group Stock Performance

Shares of NASDAQ:RAYA opened at $1.40 on Friday. Erayak Power Solution Group has a 52-week low of $1.30 and a 52-week high of $61.50. The business has a 50-day moving average price of $2.09 and a 200-day moving average price of $2.96.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

About Erayak Power Solution Group

Erayak Power Solution Group Inc is a China-based power equipment company that designs, develops, manufactures and sells power supply products. Its product portfolio includes portable power stations, gasoline generators, inverter products, battery products and smart battery chargers for residential, recreational and commercial applications.

The company sells products under the Erayak brand and also provides products for original equipment manufacturing and private-label customers. Its products are distributed through e-commerce platforms, retailers and distributors, with sales serving customers in China and international markets, including North America and Europe.

Erayak was established in 2010 and is headquartered in Wenzhou, Zhejiang Province, China.