Short Interest in Wetouch Technology Inc. (NASDAQ:WETH) Grows By 104.7%

Wetouch Technology Inc. (NASDAQ:WETH) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 8,800 shares, an increase of 104.7% from the September 15th total of 4,300 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 184,700 shares, the short-interest ratio is currently 0.0 days. Based on an average trading volume of 184,700 shares, the short-interest ratio is currently 0.0 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Wetouch Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Wetouch Technology

A hedge fund recently bought a new stake in Wetouch Technology stock. Argentarii LLC acquired a new stake in shares of Wetouch Technology Inc. (NASDAQ:WETH) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 94,318 shares of the company’s stock, valued at approximately $137,000. Argentarii LLC owned 0.79% of Wetouch Technology at the end of the most recent quarter.

Wetouch Technology Stock Down 6.2%

WETH stock opened at $1.66 on Monday. The firm has a market cap of $19.80 million, a PE ratio of 2.63 and a beta of 0.08. The business has a 50 day moving average of $1.21 and a 200-day moving average of $1.07. Wetouch Technology has a 12-month low of $0.76 and a 12-month high of $2.11.

Wetouch Technology (NASDAQ:WETH) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $0.21 earnings per share for the quarter. The firm had revenue of $15.29 million for 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.