Short Interest in Wetouch Technology Inc. (NASDAQ:WETH) Decreases By 16.6%

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 86,327 shares, a decline of 16.6% from the February 26th total of 103,491 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 48,414 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Wetouch Technology in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Wetouch Technology Stock Performance

Shares of WETH stock opened at $1.30 on Monday. The business’s fifty day simple moving average is $1.60 and its 200-day simple moving average is $1.73. The company has a market cap of $15.51 million, a PE ratio of 2.10 and a beta of 0.33. Wetouch Technology has a 12-month low of $0.76 and a 12-month high of $3.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC purchased a new stake in Wetouch Technology in the fourth quarter valued at about $126,000. Citadel Advisors LLC purchased a new stake in shares of Wetouch Technology during the third quarter worth about $86,000. Jane Street Group LLC grew its stake in shares of Wetouch Technology by 176.6% during the fourth quarter. Jane Street Group LLC now owns 95,917 shares of the company’s stock worth $129,000 after acquiring an additional 61,237 shares during the last quarter. Lepercq De Neuflize Asset Management LLC increased its holdings in shares of Wetouch Technology by 71.8% during the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 133,908 shares of the company’s stock valued at $179,000 after acquiring an additional 55,954 shares in the last quarter. Finally, Primoris Wealth Advisors LLC acquired a new position in shares of Wetouch Technology during the fourth quarter valued at about $29,000.

Wetouch Technology Company Profile

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.