Wetouch Technology Inc. (NASDAQ:WETH) Short Interest Update

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 30,738 shares, an increase of 859.1% from the May 14th total of 3,205 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 184,786 shares, the short-interest ratio is presently 0.2 days.

Wetouch Technology Price Performance

WETH stock opened at $1.42 on Friday. The company has a market capitalization of $16.94 million, a P/E ratio of 2.00 and a beta of 0.75. The company has a 50-day simple moving average of $1.58 and a 200 day simple moving average of $1.62. Wetouch Technology has a fifty-two week low of $0.77 and a fifty-two week high of $3.68.

Wetouch Technology (NASDAQ:WETH) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.32 earnings per share for the quarter. Wetouch Technology had a net margin of 18.34% and a return on equity of 6.18%. The company had revenue of $16.31 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Wetouch Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Institutional Investors Weigh In On Wetouch Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Bridgeway Capital Management LLC purchased a new stake in Wetouch Technology during the fourth quarter valued at about $126,000. Citadel Advisors LLC purchased a new stake in Wetouch Technology during the third quarter valued at about $86,000. Jane Street Group LLC lifted its stake in Wetouch Technology by 176.6% during 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 lifted its stake in 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 buying an additional 55,954 shares in the last quarter. Finally, Primoris Wealth Advisors LLC purchased a new stake in 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.