Short Interest in Ryde Group Ltd. (NYSEAMERICAN:RYDE) Drops By 52.2%

Ryde Group Ltd. (NYSEAMERICAN:RYDE) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 745,677 shares, a decline of 52.2% from the May 31st total of 1,560,885 shares. Based on an average daily trading volume, of 389,091 shares, the short-interest ratio is presently 1.9 days. Approximately 2.2% of the shares of the company are short sold.

Ryde Group Trading Up 1.5%

Ryde Group stock traded up $0.01 during midday trading on Wednesday, reaching $0.65. The stock had a trading volume of 50,639 shares, compared to its average volume of 207,815. Ryde Group has a 12 month low of $0.20 and a 12 month high of $1.55. The firm’s 50-day moving average price is $0.94 and its 200 day moving average price is $0.65.

Ryde Group (NYSEAMERICAN:RYDE) last posted its quarterly earnings results on Friday, April 24th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $2.60 million for the quarter.

Insiders Place Their Bets

In other Ryde Group news, CEO Junming Terence Zou sold 618,750 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $0.85, for a total value of $525,937.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Ryde Group stock. Citadel Advisors LLC raised its holdings in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,709 shares of the company’s stock after buying an additional 54,272 shares during the quarter. Citadel Advisors LLC owned about 0.21% of Ryde Group worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

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.