Ryde Group Ltd. (NYSEAMERICAN:RYDE) Sees Significant Drop in Short Interest

Ryde Group Ltd. (NYSEAMERICAN:RYDE) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 60,800 shares, a drop of 44.8% from the August 15th total of 110,100 shares. Based on an average daily volume of 559,100 shares, the short-interest ratio is presently 0.1 days. Currently, 0.7% of the company’s shares are short sold.

Ryde Group Stock Down 84.6 %

Shares of NYSEAMERICAN:RYDE opened at $2.03 on Friday. Ryde Group has a 12-month low of $0.76 and a 12-month high of $22.49.

Institutional Investors Weigh In On Ryde Group

A hedge fund recently bought a new stake in Ryde Group stock. XTX Topco Ltd acquired a new stake in shares of Ryde Group Ltd. (NYSEAMERICAN:RYDE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,486 shares of the company’s stock, valued at approximately $149,000. XTX Topco Ltd owned 0.13% of Ryde Group as of its most recent filing with the Securities and Exchange Commission (SEC).

About Ryde Group

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.