Erayak Power Solution Group (NASDAQ:RAYA) Trading Down 0.2% – Time to Sell?

Shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) traded down 0.2% on Tuesday . The stock traded as low as $3.65 and last traded at $4.09. 26,552 shares traded hands during trading, a decline of 29% from the average session volume of 37,475 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RAYA. Weiss Ratings reissued a “sell (e+)” rating on shares of Erayak Power Solution Group in a research report on Wednesday, December 10th. Wall Street Zen raised shares of Erayak Power Solution Group to a “sell” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Erayak Power Solution Group Stock Performance

The company has a quick ratio of 1.61, a current ratio of 2.14 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $4.48 and a 200-day moving average of $129.97.

Erayak Power Solution Group (NASDAQ:RAYA) last issued its quarterly earnings results on Tuesday, December 2nd. The company reported ($1.12) EPS for the quarter. The company had revenue of $4.37 million during the quarter.

Hedge Funds Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. Barclays PLC bought a new position in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned about 73.03% of Erayak Power Solution Group at the end of the most recent quarter. Institutional investors own 0.33% of the company’s stock.

About Erayak Power Solution Group

Erayak Power Solution Group Inc, through its subsidiaries, engages in the research and development, manufacture, and wholesale and retail of power solution products. Its product portfolio includes sine wave and off-grid inverters, inverter and gasoline generators, battery and smart chargers, and custom-designed products.