Erayak Power Solution Group (NASDAQ:RAYA) Trading Down 0.3% – Here’s Why

Erayak Power Solution Group Inc. (NASDAQ:RAYA)’s stock price fell 0.3% on Friday . The company traded as low as $3.13 and last traded at $3.32. 17,354 shares changed hands during trading, a decline of 36% from the average session volume of 27,138 shares. The stock had previously closed at $3.33.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RAYA. Weiss Ratings reiterated a “sell (d)” rating on shares of Erayak Power Solution Group in a report on Wednesday, October 8th. Wall Street Zen upgraded Erayak Power Solution Group to a “sell” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Erayak Power Solution Group presently has a consensus rating of “Sell”.

Erayak Power Solution Group Trading Down 0.3%

The firm’s 50 day moving average is $6.26 and its two-hundred day moving average is $170.47.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Erayak Power Solution Group stock. Barclays PLC acquired a new position in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 650,000 shares of the company’s stock, valued at approximately $2,658,000. Barclays PLC owned about 73.03% of Erayak Power Solution Group at the end of the most recent quarter. Institutional investors own 0.33% of the company’s stock.

Erayak Power Solution Group Company Profile

Erayak Power Solution Group Inc, through its subsidiaries, engages in the research and development, manufacture, and wholesale and retail of power solution products. Its product portfolio includes sine wave and off-grid inverters, inverter and gasoline generators, battery and smart chargers, and custom-designed products.