Webus International Limited (NASDAQ:WETO) Sees Significant Decrease in Short Interest

Webus International Limited (NASDAQ:WETO) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 3,347 shares, a drop of 87.2% from the April 30th total of 26,122 shares. Based on an average daily volume of 43,286 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Webus International Price Performance

Webus International stock traded down $0.02 during trading hours on Thursday, hitting $1.01. The stock had a trading volume of 75,275 shares, compared to its average volume of 1,166,279. The business’s 50 day simple moving average is $0.58 and its 200-day simple moving average is $0.68. Webus International has a one year low of $0.36 and a one year high of $4.25.

Shares of Webus International are set to reverse split before the market opens on Tuesday, June 2nd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 1st.

Webus International (NASDAQ:WETO) last posted its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter. The business had revenue of $0.68 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Webus International in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Webus International Company Profile

Webus International Ltd. operates as a holding company. It engages in the provision of mobility solutions with artificial intelligence augmented online support and itinerary management support. The firm offers commute shuttle, customized chartered bus, packaged tour, and other services to customers. The company was founded on February 10, 2022 and is headquartered in Hangzhou, China.