Ryde Group (NYSEAMERICAN:RYDE) Shares Up 4.7% – Still a Buy?

Shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) were up 4.7% during trading on Wednesday . The stock traded as high as $0.3416 and last traded at $0.3350. Approximately 11,665 shares traded hands during trading, a decline of 82% from the average daily volume of 64,855 shares. The stock had previously closed at $0.3199.

Wall Street Analyst Weigh In

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

Ryde Group Stock Performance

The company has a fifty day simple moving average of $0.48 and a 200-day simple moving average of $0.39.

Ryde Group (NYSEAMERICAN:RYDE) last announced its earnings results on Friday, October 24th. The company reported ($0.06) EPS for the quarter. The business had revenue of $2.26 million for the quarter.

Hedge Funds Weigh In On Ryde Group

An institutional investor recently raised its position in Ryde Group stock. Citadel Advisors LLC raised its position in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,709 shares of the company’s stock after purchasing an additional 54,272 shares during the quarter. Citadel Advisors LLC owned 0.21% of Ryde Group worth $27,000 at the end of the most recent 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.