Erayak Power Solution Group (NASDAQ:RAYA) Trading Up 2.7% – Here’s Why

Erayak Power Solution Group Inc. (NASDAQ:RAYA)’s stock price shot up 2.7% during mid-day trading on Monday . The stock traded as high as $2.70 and last traded at $2.69. Approximately 9,135 shares were traded during trading, a decline of 85% from the average daily volume of 62,495 shares. The stock had previously closed at $2.62.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wall Street Zen upgraded Erayak Power Solution Group to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Erayak Power Solution Group in a report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Erayak Power Solution Group Stock Performance

The stock’s fifty day moving average price is $3.09 and its 200 day moving average price is $9.10. The company has a quick ratio of 1.62, a current ratio of 2.09 and a debt-to-equity ratio of 0.10.

Erayak Power Solution Group (NASDAQ:RAYA) last posted its quarterly earnings data on Wednesday, April 29th. The company reported ($13.59) earnings per share for the quarter. The firm had revenue of $7.06 million for the quarter.

Institutional Investors Weigh In On Erayak Power Solution Group

A hedge fund recently bought a new position in Erayak Power Solution Group stock. SmartHarvest Portfolios LLC purchased a new position in shares of Erayak Power Solution Group Inc. (NASDAQ:RAYA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,957 shares of the company’s stock, valued at approximately $64,000. SmartHarvest Portfolios LLC owned about 1.91% of Erayak Power Solution Group as of its most recent SEC filing. 0.33% of the stock is owned by hedge funds and other institutional investors.

Erayak Power Solution Group Company Profile

Erayak Power Solution Group Co, Ltd. is a diversified provider of power electronics products and services, offering a broad portfolio that includes AC/DC power adapters, DC/DC converters, uninterruptible power supplies (UPS), power management modules and charger solutions. Through a combination of proprietary design, engineering services and contract manufacturing, the company supports applications in consumer electronics, industrial automation, telecommunications and renewable energy systems.

The company collaborates closely with OEM and ODM customers to develop customized power solutions that meet specific performance, size and efficiency requirements.