Wetouch Technology (NASDAQ:WETH) Shares Down 3.6% – Time to Sell?

Wetouch Technology Inc. (NASDAQ:WETH) shares traded down 3.6% on Friday . The company traded as low as $1.34 and last traded at $1.34. 12,709 shares changed hands during trading, a decline of 69% from the average session volume of 40,358 shares. The stock had previously closed at $1.39.

Wall Street Analyst Weigh In

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

Wetouch Technology Stock Down 3.6%

The stock has a market capitalization of $15.99 million, a P/E ratio of 2.16 and a beta of 0.33. The company has a fifty day simple moving average of $1.65 and a two-hundred day simple moving average of $1.71.

Hedge Funds Weigh In On Wetouch Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC bought a new stake in Wetouch Technology during the 4th quarter worth approximately $126,000. Citadel Advisors LLC acquired a new stake in Wetouch Technology during the 3rd quarter worth approximately $86,000. Jane Street Group LLC lifted its stake in Wetouch Technology by 176.6% in the fourth quarter. Jane Street Group LLC now owns 95,917 shares of the company’s stock valued at $129,000 after buying an additional 61,237 shares in the last quarter. Lepercq De Neuflize Asset Management LLC boosted its holdings in shares of Wetouch Technology by 71.8% in the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 133,908 shares of the company’s stock valued at $179,000 after buying an additional 55,954 shares during the period. Finally, Primoris Wealth Advisors LLC acquired a new position in shares of Wetouch Technology in the fourth quarter valued at approximately $29,000.

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.