Wetouch Technology (NASDAQ:WETH) Releases Earnings Results

Wetouch Technology (NASDAQ:WETH) issued its earnings results on Friday. The company reported $0.32 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $16.31 million for the quarter. Wetouch Technology had a net margin of 15.86% and a return on equity of 5.38%.

Wetouch Technology Stock Performance

Shares of WETH stock opened at $1.50 on Friday. The firm’s 50-day moving average is $1.54 and its 200-day moving average is $1.76. The stock has a market cap of $17.90 million, a price-to-earnings ratio of 2.11 and a beta of 0.86. Wetouch Technology has a 52-week low of $0.77 and a 52-week high of $3.68.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WETH. Bridgeway Capital Management LLC bought a new position in Wetouch Technology in the 4th quarter valued at about $126,000. Citadel Advisors LLC bought a new position in Wetouch Technology in the 3rd quarter valued at about $86,000. Jane Street Group LLC raised its holdings in Wetouch Technology by 176.6% in the 4th quarter. Jane Street Group LLC now owns 95,917 shares of the company’s stock valued at $129,000 after acquiring an additional 61,237 shares during the period. Lepercq De Neuflize Asset Management LLC raised its holdings in Wetouch Technology by 71.8% in the 4th 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 during the period. Finally, Primoris Wealth Advisors LLC bought a new position in Wetouch Technology in the 4th quarter valued at about $29,000.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Wetouch Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Wetouch Technology currently has an average rating of “Sell”.

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.