Raytech (NASDAQ:RAY) Trading Down 20% – Here’s What Happened

Raytech Holding Limited (NASDAQ:RAY)’s stock price was down 20% on Thursday . The company traded as low as $2.44 and last traded at $2.44. 13,370 shares were traded during trading, an increase of 132% from the average session volume of 5,765 shares. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Raytech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Raytech Trading Down 20.0%

The company has a fifty day simple moving average of $3.12 and a 200-day simple moving average of $3.51.

Hedge Funds Weigh In On Raytech

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC boosted its stake in Raytech by 631.7% in the 3rd quarter. Virtu Financial LLC now owns 85,408 shares of the company’s stock worth $42,000 after purchasing an additional 73,735 shares during the period. Marex Group plc bought a new stake in shares of Raytech during the second quarter worth $60,000. Finally, Cetera Investment Advisers purchased a new stake in Raytech in the 1st quarter valued at about $82,000.

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.