Erayak Power Solution Group Inc [NASDAQ: RAYA] jumped around 0.17 points on Wednesday, while shares priced at $0.74 at the close of the session, up 30.01%. The company report on November 20, 2023 at 4:00 PM that Erayak Power Solution Group Inc. Announces Receipt of Nasdaq Minimum Bid Price Notification.
Erayak Power Solution Group Inc. (“Erayak” or the “Company”) (Nasdaq: RAYA), a leading manufacturer, designer, and exporter of high-quality products in the power supply industry, announced today that on November 15, 2023, the Company received a letter from the Nasdaq Listing Qualifications, indicating that the Company is not in compliance with the minimum bid price requirement for continued listing set forth in Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, or until May 13, 2024, to regain compliance with the minimum bid price requirement. If at any time during such 180-day period the closing bid price of the Company’s shares is at least $1 for a minimum of 10 consecutive business days, Nasdaq will provide the Company written confirmation of compliance.
Compared to the average trading volume of 42.08K shares, RAYA reached a trading volume of 8474264 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Erayak Power Solution Group Inc [RAYA]?
The Average True Range (ATR) for Erayak Power Solution Group Inc is set at 0.21 The Price to Book ratio for the last quarter was 0.46, with the Price to Cash per share for the same quarter was set at 0.61.
How has RAYA stock performed recently?
Erayak Power Solution Group Inc [RAYA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.57. With this latest performance, RAYA shares dropped by -27.32% in over the last four-week period, additionally sinking by -48.16% over the last 6 months – not to mention a drop of -74.87% 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 RAYA stock in for the last two-week period is set at 51.49, with the RSI for the last a single of trading hit 56.82, and the three-weeks RSI is set at 49.39 for Erayak Power Solution Group Inc [RAYA]. The present Moving Average for the last 50 days of trading for this stock 0.7823, while it was recorded at 0.6042 for the last single week of trading, and 1.2815 for the last 200 days.
Erayak Power Solution Group Inc [RAYA]: Deeper insight into the fundamentals
Erayak Power Solution Group Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.01 and a Current Ratio set at 1.46.
Insider trade positions for Erayak Power Solution Group Inc [RAYA]
The top three institutional holders of RAYA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RAYA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RAYA stock with ownership which is approximately 5.8325%.
