Ryde Group (NYSEAMERICAN:RYDE) Now Covered by Maxim Group

Equities researchers at Maxim Group initiated coverage on shares of Ryde Group (NYSEAMERICAN:RYDE) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Maxim Group’s target price suggests a potential upside of 113.33% from the company’s previous close.

Ryde Group Price Performance

Shares of RYDE stock opened at $3.75 on Tuesday. Ryde Group has a 12-month low of $2.02 and a 12-month high of $8.12.

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.