Raytech (NASDAQ:RAY) Stock Price Up 2.7% – Still a Buy?

Raytech Holding Limited (NASDAQ:RAY) traded up 2.7% on Wednesday . The company traded as high as $2.92 and last traded at $2.9580. Approximately 4,974 shares traded hands during trading, a decline of 75% from the average daily volume of 19,677 shares. The stock had previously closed at $2.88.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Raytech from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Raytech Stock Performance

The stock has a fifty day simple moving average of $3.15 and a 200-day simple moving average of $3.39.

Hedge Funds Weigh In On Raytech

Institutional investors have recently added to or reduced their stakes in the company. Marex Group plc acquired a new position in Raytech in the second quarter valued at about $60,000. Virtu Financial LLC increased its holdings in shares of Raytech by 631.7% during the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock worth $42,000 after buying an additional 73,735 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Raytech in the first quarter valued at approximately $82,000.

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.