Ayro Inc. [NASDAQ: AYRO] stock went on an upward path that rose over 50.20% on Wednesday, amounting to a one-week price increase of more than 63.21%. The company report on January 25, 2021 that AYRO Announces $20 Million Registered Direct Offering with Two Existing Investors.
AYRO, Inc. (Nasdaq: AYRO), a manufacturer of light-duty, emissions-free electric vehicles, announced that it has entered into definitive agreements with two existing institutional investors for the purchase and sale of 3,333,334 shares of the Company’s common stock, at a purchase price of $6.00 per share, in a registered direct offering. AYRO has also agreed to issue to the investors unregistered warrants to acquire 3,333,334 shares of common stock at $6.93 per share, exercisable six months after the closing and terminating two and a half years after the date of issuance. The closing of the offering is expected to occur on or about January 27, 2021, subject to the satisfaction of customary closing conditions.
Palladium Capital Group, LLC acted as an advisor to the offering.
Over the last 12 months, AYRO stock rose by 180.24%.
The market cap for the stock reached $349.18 million, with 23.60 million shares outstanding and 23.12 million shares in the current float. Compared to the average trading volume of 7.76M shares, AYRO stock reached a trading volume of 44182294 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ayro Inc. [AYRO]:
The Average True Range (ATR) for Ayro Inc. is set at 0.94, with the Price to Sales ratio for AYRO stock in the period of the last 12 months amounting to 361.46. The Price to Book ratio for the last quarter was 8.84, with the Price to Cash per share for the same quarter was set at 0.92.
AYRO Stock Performance Analysis:
Ayro Inc. [AYRO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 63.21. With this latest performance, AYRO shares gained by 71.24% in over the last four-week period, additionally plugging by 192.37% over the last 6 months – not to mention a rise of 180.24% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AYRO stock in for the last two-week period is set at 79.77, with the RSI for the last a single of trading hit 86.07, and the three-weeks RSI is set at 74.79 for Ayro Inc. [AYRO]. The present Moving Average for the last 50 days of trading for this stock 6.80, while it was recorded at 8.19 for the last single week of trading, and 4.46 for the last 200 days.
Insight into Ayro Inc. Fundamentals:
Ayro Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 16.60 and a Current Ratio set at 17.40.
Ayro Inc. [AYRO] Insider Position Details
There are presently around $6 million, or 8.20% of AYRO stock, in the hands of institutional investors. The top three institutional holders of AYRO stocks are: BLACKROCK INC. with ownership of 252,887, which is approximately 390.671% of the company’s market cap and around 8.50% of the total institutional ownership; ALPS ADVISORS INC, holding 179,188 shares of the stock with an approximate value of $1.37 million in AYRO stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.75 million in AYRO stock with ownership of nearly New of the company’s market capitalization.
24 institutional holders increased their position in Ayro Inc. [NASDAQ:AYRO] by around 765,963 shares. Additionally, 6 investors decreased positions by around 42,010 shares, while 1 investors held positions by with 21,095 shares. The mentioned changes placed institutional holdings at 829,068 shares, according to the latest SEC report filing. AYRO stock had 19 new institutional investments in for a total of 538,475 shares, while 2 institutional investors sold positions of 11,962 shares during the same period.