Short Interest in Wetouch Technology Inc. (NASDAQ:WETH) Decreases By 28.5%

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 55,900 shares, a decline of 28.5% from the August 31st total of 78,200 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 93,300 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Wetouch Technology

A hedge fund recently bought a new stake in Wetouch Technology stock. Murchinson Ltd. purchased a new stake in shares of Wetouch Technology Inc. (NASDAQ:WETH) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $68,000. Murchinson Ltd. owned approximately 0.25% of Wetouch Technology at the end of the most recent quarter.

Wetouch Technology Stock Down 4.8 %

Shares of WETH stock opened at $1.97 on Friday. Wetouch Technology has a 12-month low of $1.13 and a 12-month high of $18.50. The business’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $2.13.

Wetouch Technology (NASDAQ:WETH) last announced its earnings results on Tuesday, August 20th. The company reported $0.23 earnings per share (EPS) for the quarter. The business had revenue of $12.24 million for the quarter.

Wetouch Technology Company Profile

Wetouch Technology Inc engages in the research, development, manufacture, sale, and servicing of medium to large sized projected capacitive touchscreens in the Peoples Republic of China, Taiwan, South Korea, and internationally. The company offers various touch panels, including glass-glass, which are primarily used in GPS/car entertainment panels in mid-size and luxury cars, industrial human-machine interface (HMI), financial and banking terminals, point of sale, and lottery machines; glass-film-film products that are used in GPS and entertainment panels, industrial HMI, financial and banking terminals, lottery, and gaming industry; plastic-glass for use in GPS/entertainment panels, motor vehicle GPS, smart home products, robots, and charging stations; and glass-films used in industrial HMI.