Ryde Group (NYSEAMERICAN:RYDE) Shares Up 5% – Time to Buy?

Ryde Group Ltd. (NYSEAMERICAN:RYDE)’s share price rose 5% during trading on Tuesday . The company traded as high as $0.6890 and last traded at $0.6870. 9,606 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 57,087 shares. The stock had previously closed at $0.6541.

Ryde Group Trading Up 5.0%

The business has a fifty day moving average price of $0.79 and a 200-day moving average price of $0.68.

Ryde Group (NYSEAMERICAN:RYDE) last released its quarterly earnings data on Friday, April 24th. The company reported ($0.12) EPS for the quarter. The company had revenue of $2.60 million during the quarter.

Insider Activity

In other news, CEO Junming Terence Zou sold 618,750 shares of Ryde Group stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $0.85, for a total value of $525,937.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Ryde Group stock. Citadel Advisors LLC boosted its stake in Ryde Group Ltd. (NYSEAMERICAN:RYDE) by 311.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,709 shares of the company’s stock after purchasing an additional 54,272 shares during the period. Citadel Advisors LLC owned approximately 0.21% of Ryde Group worth $27,000 at the end of the most recent quarter.

Ryde Group Company Profile

Ryde Group Ltd engages in mobility and quick commerce businesses in Singapore. The Mobility segment provides on-demand and scheduled carpooling and ride-hailing services. The Quick Commerce segment offers real-time on-demand, scheduled, and multi-stop parcel delivery services. The company was founded in 2014 and is headquartered in Singapore.