Short Interest in Wellchange Holdings Company Limited (NASDAQ:WCT) Grows By 160.1%

Wellchange Holdings Company Limited (NASDAQ:WCT) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 619,557 shares, a growth of 160.1% from the August 15th total of 238,191 shares. Based on an average daily trading volume, of 2,148,878 shares, the days-to-cover ratio is currently 0.3 days. Currently, 106.8% of the shares of the stock are short sold.

Wellchange Price Performance

Shares of NASDAQ:WCT traded down $0.21 on Tuesday, reaching $6.81. 39,570 shares of the company traded hands, compared to its average volume of 294,382. The company’s 50 day moving average is $5.18 and its 200-day moving average is $9.77. Wellchange has a fifty-two week low of $1.90 and a fifty-two week high of $125.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Wellchange in a report on Tuesday, August 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Wellchange Company Profile

Wellchange Holdings Company Limited, through its subsidiaries, operates as an enterprise software solution services provider in Hong Kong. The company provides tailor-made software solutions, cloud-based software-as-a-service (SaaS) solutions, and white-labelled software design and development services. The company also operates MR. CLOUD, a cloud-based SaaS enterprise resource planning software platform based on subscription services to support back-office and front-office functions, such as finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management, professional services automation, project and file management, human resources management, e-commerce, and marketing automation.