Wetouch Technology Inc.’s Lock-Up Period Will End on August 19th (NASDAQ:WETH)

Wetouch Technology’s (NASDAQ:WETH) lock-up period is set to expire on Monday, August 19th. Wetouch Technology had issued 2,160,000 shares in its IPO on February 21st. The total size of the offering was $10,800,000 based on an initial share price of $5.00. After the end of Wetouch Technology’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wetouch Technology Trading Up 6.3 %

NASDAQ:WETH opened at $2.03 on Monday. The firm has a 50 day moving average of $2.20 and a 200-day moving average of $2.79. Wetouch Technology has a 1 year low of $1.13 and a 1 year high of $18.50.

Wetouch Technology (NASDAQ:WETH) last announced its quarterly earnings results on Friday, June 14th. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $14.88 million during the quarter.

Hedge Funds Weigh In On Wetouch Technology

An institutional investor recently bought a new position in Wetouch Technology stock. Murchinson Ltd. bought a new stake in shares of Wetouch Technology Inc. (NASDAQ:WETH) in the first quarter, according to its most recent Form 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 0.25% of Wetouch Technology as of its most recent SEC filing.

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.