Wetouch Technology Inc. (NASDAQ:WETH) Sees Large Drop in Short Interest

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 151,900 shares, a decline of 30.0% from the October 15th total of 217,100 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 248,300 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Wetouch Technology

A hedge fund recently bought a new stake in Wetouch Technology stock. Murchinson Ltd. bought a new position in shares of Wetouch Technology Inc. (NASDAQ:WETH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,000 shares of the company’s stock, valued at approximately $68,000. Murchinson Ltd. owned approximately 0.25% of Wetouch Technology as of its most recent SEC filing.

Wetouch Technology Price Performance

Wetouch Technology stock opened at $1.66 on Friday. The company’s 50-day moving average price is $1.82 and its two-hundred day moving average price is $1.92. Wetouch Technology has a twelve month low of $1.13 and a twelve month high of $8.20.

Wetouch Technology (NASDAQ:WETH) last announced its earnings results on Tuesday, August 20th. The company reported $0.23 earnings per share for the quarter. The firm had revenue of $12.24 million for the quarter.

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.