Raytech (NASDAQ:RAY) Stock Falls 3.4% – Should You Sell?

Raytech Holding Limited (NASDAQ:RAY) shares were down 3.4% during mid-day trading on Monday. The stock traded as low as $2.54 and last traded at $2.54. Approximately 3,515 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 7,412 shares. The stock had previously closed at $2.63.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Raytech from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 4th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Raytech presently has a consensus rating of “Sell”.

Raytech Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 2.36 and a quick ratio of 2.36. The business’s 50-day moving average is $2.75 and its 200 day moving average is $3.02.

Raytech (NASDAQ:RAY) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $9.50 million for the quarter.

Hedge Funds Weigh In On Raytech

A hedge fund recently bought a new position in Raytech stock. Cetera Investment Advisers acquired a new stake in Raytech Holding Limited (NASDAQ:RAY) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 23,678 shares of the company’s stock, valued at approximately $82,000. Cetera Investment Advisers owned about 0.87% of Raytech as of its most recent filing with the Securities & Exchange Commission.

About Raytech

Raytech Holding Limited is a jewelry company engaged in the design, manufacturing and sale of jewelry products. Its offerings are centered on bridal and wedding jewelry, including engagement rings, wedding bands and other pieces intended for significant life events.

The company operates through its jewelry business in Hong Kong and serves customers in the broader Greater China market. Its activities may include product development, sourcing and production, as well as the distribution and retailing of finished jewelry through applicable sales channels.

Raytech Holding Limited is incorporated in the Cayman Islands and operates through subsidiaries.