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

Wetouch Technology Inc. (NASDAQ:WETH) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 151,900 shares, a decrease of 30.0% from the October 15th total of 217,100 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average daily volume of 248,300 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of Wetouch Technology

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

Wetouch Technology Stock Up 0.6 %

Shares of WETH stock opened at $1.66 on Friday. Wetouch Technology has a fifty-two week low of $1.13 and a fifty-two week high of $8.20. The stock’s fifty day moving average price is $1.82 and its two-hundred day moving average price is $1.92.

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

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.