Short Interest in UTime Limited (NASDAQ:WTO) Drops By 93.6%

UTime Limited (NASDAQ:WTO) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 62,171 shares, a decline of 93.6% from the June 15th total of 974,358 shares. Based on an average daily volume of 71,832 shares, the short-interest ratio is currently 0.9 days. Currently, 77.7% of the company’s stock are sold short.

UTime Price Performance

Shares of WTO traded down $0.34 during trading hours on Friday, hitting $9.26. The company had a trading volume of 74,183 shares, compared to its average volume of 375,431. The business has a fifty day moving average of $9.23 and a 200-day moving average of $23.50. UTime has a 12 month low of $5.02 and a 12 month high of $7,700.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of UTime in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

About UTime

UTime Limited, together with its subsidiaries, designs, develops, manufactures, sells, and operates mobile phones, accessories, and related consumer electronics. The company offers consumer electronics, such as power banks, bluetooth speakers, batteries, chargers, cell phone parts, molds, and shells. It provides electronics manufacturing services, including original equipment manufacturer and original design manufacturer services. It sells its products under the UTime and Do brand names in South America, South Asia, Southeast Asia, and Africa.