Ryde Group Acquires 40% Stake in Atoll to Boost EV Presence

The latest announcement is out from Ryde Group Limited Class A ( (RYDE) ).

On June 16, 2025, Ryde Group Ltd acquired a 40% stake in Atoll Discovery Pte Ltd, an electric vehicle rental company in Singapore, marking a strategic move to expand its footprint in the growing EV market. This acquisition aligns with Singapore’s Green Plan 2030 and positions Ryde as a significant player in the EV transition in Southeast Asia, enhancing its operational flexibility and potential revenue growth through deeper integration of EVs into its services.

The most recent analyst rating on (RYDE) stock is a Buy with a $0.60 price target. To see the full list of analyst forecasts on Ryde Group Limited Class A stock, see the RYDE Stock Forecast page.

Spark’s Take on RYDE Stock

According to Spark, TipRanks’ AI Analyst, RYDE is a Underperform.

RYDE’s overall stock score is dominated by its challenging financial performance and poor technical indicators. The company’s ongoing financial strain, reflected in negative cash flows and profitability metrics, is the most significant factor. Technical analysis supports this view with bearish signals. Valuation metrics further underscore the company’s struggles, with a negative P/E ratio and no dividend yield.

To see Spark’s full report on RYDE stock, click here.

More about Ryde Group Limited Class A

Ryde Group Ltd, a technology company based in Singapore, operates a leading platform for mobility and quick commerce. Founded in 2014, it is known for its super mobility app, offering services such as carpooling, private hire, taxi, and delivery. Notably, Ryde takes a 0% commission from its driver-partners, ensuring more earnings for them. The company is publicly listed on the NYSE American.

Average Trading Volume: 129,510

Technical Sentiment Signal: Sell

Current Market Cap: $4.65M

For detailed information about RYDE stock, go to TipRanks’ Stock Analysis page.