Wetouch Technology Inc. (NASDAQ:WETH) Short Interest Down 30.0% in October

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a large decline in short interest in 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. Based on an average daily volume of 248,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.3% of the shares of the company are sold short.

Wetouch Technology Stock Performance

NASDAQ WETH traded up $0.10 during trading on Thursday, reaching $1.65. The company’s stock had a trading volume of 244,792 shares, compared to its average volume of 195,453. The firm has a 50 day moving average price of $1.82 and a 200 day moving average price of $1.92. Wetouch Technology has a 12 month low of $1.13 and a 12 month high of $9.45.

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

Institutional Investors Weigh In On Wetouch Technology

An institutional investor recently bought a new position in Wetouch Technology stock. Murchinson Ltd. acquired a new stake in shares of Wetouch Technology Inc. (NASDAQ:WETH) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 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 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.