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 during the month of August. As of August 31st, there was short interest totalling 78,200 shares, a decrease of 29.7% from the August 15th total of 111,200 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 118,200 shares, the days-to-cover ratio is presently 0.7 days.

Wetouch Technology Price Performance

WETH stock opened at $1.70 on Friday. The stock has a 50-day moving average price of $1.81 and a 200-day moving average price of $2.27. Wetouch Technology has a 1-year low of $1.13 and a 1-year high of $18.50.

Wetouch Technology (NASDAQ:WETH) last issued its quarterly 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 during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Wetouch Technology stock. Murchinson Ltd. acquired a new position in shares of Wetouch Technology Inc. (NASDAQ:WETH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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 reporting period.

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.