Short Interest in Wetouch Technology Inc. (NASDAQ:WETH) Expands By 461.0%

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 217,100 shares, an increase of 461.0% from the September 30th total of 38,700 shares. Based on an average trading volume of 241,300 shares, the short-interest ratio is currently 0.9 days. Approximately 1.8% of the company’s stock are short sold.

Wetouch Technology Price Performance

Shares of Wetouch Technology stock opened at $1.76 on Friday. Wetouch Technology has a 52 week low of $1.13 and a 52 week high of $9.48. The stock has a 50 day moving average price of $1.85 and a two-hundred day moving average price of $1.96.

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

Hedge Funds 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 its most recent 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 at the end of the most recent quarter.

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.