Ryde Group (NYSEAMERICAN:RYDE) Trading Down 4.8% – Time to Sell?

Ryde Group Ltd. (NYSEAMERICAN:RYDE) shares fell 4.8% during mid-day trading on Thursday . The stock traded as low as $0.2535 and last traded at $0.2665. 33,655 shares traded hands during trading, a decline of 85% from the average session volume of 225,952 shares. The stock had previously closed at $0.28.

Analyst Upgrades and Downgrades

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

Ryde Group Stock Down 4.8%

The firm’s 50 day simple moving average is $0.31 and its two-hundred day simple moving average is $0.38.

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

Hedge Funds Weigh In On Ryde Group

A hedge fund recently raised its stake in Ryde Group stock. Citadel Advisors LLC lifted its position in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,709 shares of the company’s stock after acquiring an additional 54,272 shares during the period. Citadel Advisors LLC owned approximately 0.21% of Ryde Group worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Ryde Group Company Profile

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.