Weidai Ltd. (NYSE:WEI – Get Rating) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 113,800 shares, an increase of 695.8% from the April 15th total of 14,300 shares. Based on an average trading volume of 417,000 shares, the days-to-cover ratio is presently 0.3 days.
WEI stock opened at $1.08 on Thursday. The company has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.85. Weidai has a fifty-two week low of $0.91 and a fifty-two week high of $8.25.
A hedge fund recently raised its stake in Weidai stock. FMR LLC boosted its holdings in Weidai Ltd. (NYSE:WEI – Get Rating) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 520,064 shares of the company’s stock after acquiring an additional 14,474 shares during the quarter. FMR LLC owned about 0.74% of Weidai worth $6,012,000 as of its most recent SEC filing. 0.51% of the stock is owned by institutional investors and hedge funds.
Weidai Ltd., through its subsidiaries, provides auto-backed financing solutions in the People's Republic of China. Its auto-backed financing platform connects borrowers primarily small and micro enterprise owners with online investors and institutional funding partners. The company was founded in 2011 and is headquartered in Hangzhou, the People's Republic of China.
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