Ryde Group Ltd. (NYSEAMERICAN:RYDE) Short Interest Update

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 208,040 shares, a decline of 49.5% from the November 30th total of 411,891 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 54,352 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily volume of 54,352 shares, the days-to-cover ratio is currently 3.8 days. Approximately 0.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ryde Group stock. Citadel Advisors LLC raised its holdings in Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,709 shares of the company’s stock after buying an additional 54,272 shares during the period. Citadel Advisors LLC owned about 0.21% of Ryde Group worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Ryde Group Stock Performance

NYSEAMERICAN:RYDE traded down $0.02 on Monday, reaching $0.27. 114,619 shares of the stock traded hands, compared to its average volume of 3,083,986. Ryde Group has a 1-year low of $0.16 and a 1-year high of $0.89. The company’s 50 day moving average is $0.47 and its 200-day moving average is $0.39.

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

Wall Street Analyst Weigh In

Separately, Maxim Group cut 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, Ryde Group has an average rating of “Hold”.

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.