Ayro, Inc. (NASDAQ:AYRO – Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,040,000 shares, a drop of 17.4% from the August 15th total of 2,470,000 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average daily volume of 178,900 shares, the days-to-cover ratio is currently 11.4 days.
Ayro Price Performance
Shares of NASDAQ:AYRO opened at $0.49 on Friday. The business’s 50 day moving average is $6.65 and its 200 day moving average is $6.09. Ayro has a 12-month low of $0.35 and a 12-month high of $0.94. The stock has a market cap of $18.31 million, a price-to-earnings ratio of -0.76 and a beta of 3.55.
Ayro shares are going to reverse split on the morning of Monday, September 18th. The 1-10 reverse split was announced on Friday, September 15th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, September 15th.
Institutional Trading of Ayro
A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in shares of Ayro by 287.3% during the 1st quarter. Bank of New York Mellon Corp now owns 506,941 shares of the company’s stock valued at $649,000 after purchasing an additional 376,042 shares during the last quarter. Virtu Financial LLC purchased a new stake in Ayro during the first quarter worth about $32,000. Millennium Management LLC raised its position in Ayro by 48.9% in the fourth quarter. Millennium Management LLC now owns 218,785 shares of the company’s stock worth $84,000 after acquiring an additional 71,831 shares during the period. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Ayro during the 1st quarter valued at approximately $34,000. 17.15% of the stock is currently owned by institutional investors.
Ayro, Inc designs, manufactures, and sells electric vehicles for closed campus mobility, urban and community transport, local on-demand and last mile delivery, and government use in the United States. It provides four-wheeled purpose-built electric vehicles for universities, business and medical campuses, last mile delivery services, and food service providers.
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