Wetouch Technology Inc. (NASDAQ:WETH) Sees Significant Growth in Short Interest

Wetouch Technology Inc. (NASDAQ:WETH) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 104,674 shares, an increase of 23.0% from the November 30th total of 85,092 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 64,754 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 64,754 shares, the short-interest ratio is presently 1.6 days. Currently, 0.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WETH shares. Wall Street Zen raised Wetouch Technology to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wetouch Technology in a research report on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Wetouch Technology

An institutional investor recently raised its position in Wetouch Technology stock. Argentarii LLC raised its position in shares of Wetouch Technology Inc. (NASDAQ:WETH) by 15.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,318 shares of the company’s stock after buying an additional 15,000 shares during the quarter. Argentarii LLC owned 0.92% of Wetouch Technology worth $137,000 at the end of the most recent quarter.

Wetouch Technology Price Performance

WETH stock opened at $1.39 on Wednesday. The firm has a market cap of $16.58 million, a PE ratio of 2.24 and a beta of 0.58. Wetouch Technology has a 12 month low of $0.76 and a 12 month high of $3.68. The firm has a 50 day simple moving average of $2.06 and a 200 day simple moving average of $1.43.

Wetouch Technology (NASDAQ:WETH) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.21 earnings per share (EPS) for the quarter. Wetouch Technology had a return on equity of 5.73% and a net margin of 17.10%.The company had revenue of $12.18 million for the quarter.

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.