Wetouch Technology Inc. (NASDAQ:WETH) Sees Large Drop in Short Interest

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 119,200 shares, a decrease of 59.8% from the January 15th total of 296,200 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 324,500 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Wetouch Technology

Several hedge funds and other institutional investors have recently made changes to their positions in WETH. XTX Topco Ltd bought a new position in Wetouch Technology in the 3rd quarter valued at about $31,000. Virtu Financial LLC purchased a new stake in shares of Wetouch Technology in the third quarter worth approximately $34,000. Finally, Lepercq Multi Asset Fund purchased a new position in shares of Wetouch Technology during the fourth quarter valued at approximately $120,000.

Wetouch Technology Stock Performance

NASDAQ:WETH opened at $1.49 on Thursday. The firm has a fifty day simple moving average of $1.63 and a two-hundred day simple moving average of $1.71. Wetouch Technology has a 12 month low of $1.13 and a 12 month high of $8.20.

About Wetouch Technology

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.