Erayak Power Solution Group (NASDAQ:RAYA) Releases Quarterly Earnings Results

Erayak Power Solution Group (NASDAQ:RAYA) released its earnings results on Wednesday. The company reported ($0.61) earnings per share for the quarter, FiscalAI reports. The company had revenue of $6.09 million during the quarter.

Erayak Power Solution Group Price Performance

Shares of RAYA opened at $1.45 on Thursday. The firm has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $2.98. Erayak Power Solution Group has a twelve month low of $1.33 and a twelve month high of $71.00.

Analyst Ratings Changes

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

Erayak Power Solution Group Company Profile

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.