Raytech Holding Limited (NASDAQ:RAY) Short Interest Up 616.7% in January

Raytech Holding Limited (NASDAQ:RAY) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 61,172 shares, an increase of 616.7% from the December 31st total of 8,535 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 87,869 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 87,869 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.2% of the shares of the stock are sold short.

Raytech Stock Performance

RAY traded down $0.42 on Thursday, hitting $4.17. The company had a trading volume of 75,090 shares, compared to its average volume of 99,619. The stock has a fifty day simple moving average of $2.42 and a 200-day simple moving average of $13.29. Raytech has a 52-week low of $1.40 and a 52-week high of $58.88.

Institutional Investors Weigh In On Raytech

An institutional investor recently bought a new position in Raytech stock. Marex Group plc acquired a new position in Raytech Holding Limited (NASDAQ:RAY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 51,216 shares of the company’s stock, valued at approximately $60,000. Marex Group plc owned approximately 0.12% of Raytech at the end of the most recent quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Raytech in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Raytech presently has a consensus rating of “Sell”.

About Raytech

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.