Ryde Group Ltd. (RYDE) Shares Up Despite Recent Market Volatility

Ryde Group Ltd. (AMEX: RYDE) has seen a rise in its stock price by 1.44 in relation to its previous close of 8.33. However, the company has experienced a 8.33% gain in its stock price over the last five trading sessions. businesswire.com reported 2024-05-17 that SINGAPORE–(BUSINESS WIRE)–Ryde Group Ltd (“Ryde” or “the Company”) (NYSE American: RYDE), a leading technology company in Singapore offering super mobility and quick commerce solutions, is pleased to announce the update and redesign of its rider app to enhance user experience. The redesigned Ryde app features significant improvements, including an enhanced user interface, seamless booking experience, and personalized trip recommendations driven by AI. Leveraging advanced algorithms, the app o.

Is It Worth Investing in Ryde Group Ltd. (AMEX: RYDE) Right Now?

Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

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The public float for RYDE is 7.72M and currently, short sellers hold a 2.94% of that float. On May 23, 2024, RYDE’s average trading volume was 386.93K shares.

RYDE’s Market Performance

The volatility ratio for the week is 12.07%, and the volatility levels for the last 30 days are 16.65% for Ryde Group Ltd. (RYDE). The simple moving average for the last 20 days is 34.56% for RYDE stock, with a simple moving average of 75.36% for the last 200 days.

RYDE Trading at 77.30% from the 50-Day Moving Average

After a stumble in the market that brought RYDE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.63% of loss for the given period.

Volatility was left at 16.65%, however, over the last 30 days, the volatility rate increased by 12.07%, as shares surge +134.12% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +58.72% upper at present.

During the last 5 trading sessions, RYDE rose by +8.65%, in comparison to the 20-day moving average, which settled at $6.52. In addition, Ryde Group Ltd. saw 111.25% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for RYDE

The liquidity ratio also appears to be rather interesting for investors as it stands at 0.19.

Conclusion

To wrap up, the performance of Ryde Group Ltd. (RYDE) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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