Short Interest in Raytech Holding Limited (NASDAQ:RAY) Drops By 33.1%

Raytech Holding Limited (NASDAQ:RAY) saw a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 40,532 shares, a decrease of 33.1% from the February 26th total of 60,587 shares. Based on an average daily trading volume, of 25,014 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.5% of the shares of the company are short sold.

Raytech Stock Performance

Shares of NASDAQ RAY traded up $0.01 during trading on Friday, reaching $3.77. 1,181 shares of the company traded hands, compared to its average volume of 16,904. The firm’s fifty day simple moving average is $4.21 and its 200 day simple moving average is $4.25. Raytech has a 12-month low of $1.40 and a 12-month high of $58.88.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Raytech stock. Marex Group plc purchased a new stake in Raytech Holding Limited (NASDAQ:RAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 51,216 shares of the company’s stock, valued at approximately $60,000. Marex Group plc owned 0.12% of Raytech at the end of the most recent quarter.

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.