Erayak Power Solution Group Inc. (NASDAQ:RAYA) Stock Short Interest Falls 90.9%

Erayak Power Solution Group Inc. (NASDAQ:RAYA) saw a significant drop in short interest in September. As of September 30th, there was short interest totaling 4,151 shares, a drop of 90.9% from the September 15th total of 45,518 shares. Based on an average daily volume of 100,987 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.9% of the company’s stock are short sold.

Erayak Power Solution Group Stock Down 1.2%

Shares of NASDAQ:RAYA opened at $1.71 on Friday. Erayak Power Solution Group has a 12-month low of $1.65 and a 12-month high of $71.79. The stock’s 50-day moving average price is $2.16 and its 200-day moving average price is $3.06.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Erayak Power Solution Group in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Erayak Power Solution Group presently has a consensus rating of “Sell”.

About Erayak Power Solution Group

Erayak Power Solution Group Inc is a China-based power equipment company that designs, develops, manufactures and sells power supply products. Its product portfolio includes portable power stations, gasoline generators, inverter products, battery products and smart battery chargers for residential, recreational and commercial applications.

The company sells products under the Erayak brand and also provides products for original equipment manufacturing and private-label customers. Its products are distributed through e-commerce platforms, retailers and distributors, with sales serving customers in China and international markets, including North America and Europe.

Erayak was established in 2010 and is headquartered in Wenzhou, Zhejiang Province, China.