Raytech (NASDAQ:RAY) Stock Price Down 4% – Should You Sell?

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

Analysts Set New Price Targets

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

Raytech Price Performance

The company has a 50-day moving average price of $3.33 and a 200-day moving average price of $3.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RAY. Cetera Investment Advisers purchased a new position in shares of Raytech in the 1st quarter valued at $82,000. Virtu Financial LLC lifted its holdings in shares of Raytech by 631.7% in the 3rd quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock worth $42,000 after purchasing an additional 73,735 shares during the last quarter. Finally, Marex Group plc bought a new position in shares of Raytech during the second quarter worth about $60,000.

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.