Raytech (NASDAQ:RAY) Stock Price Down 0.9% – Should You Sell?

Raytech Holding Limited (NASDAQ:RAY)’s stock price traded down 0.9% during trading on Friday . The stock traded as low as $2.86 and last traded at $2.8650. Approximately 1,687 shares traded hands during trading, a decline of 79% from the average session volume of 7,857 shares. The stock had previously closed at $2.89.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Raytech from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Raytech Stock Performance

The business has a 50 day simple moving average of $2.94 and a two-hundred day simple moving average of $3.46. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.36 and a quick ratio of 2.36.

Raytech (NASDAQ:RAY) last issued its earnings results on Friday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $3.86 million for the quarter.

Hedge Funds Weigh In On Raytech

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers purchased a new position in shares of Raytech during the first quarter worth approximately $82,000. Virtu Financial LLC boosted its holdings in shares of Raytech by 631.7% in the third quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock valued at $42,000 after purchasing an additional 73,735 shares during the period. Finally, Marex Group plc bought a new position in Raytech in the second quarter worth approximately $60,000.

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.