Webus International Limited (NASDAQ:WETO) Sees Large Decline in Short Interest

Webus International Limited (NASDAQ:WETO) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 316,482 shares, a drop of 85.4% from the September 30th total of 2,164,479 shares. Based on an average daily trading volume, of 13,136,258 shares, the days-to-cover ratio is presently 0.0 days. Currently, 29.3% of the shares of the company are sold short.

Webus International Stock Performance

Webus International stock opened at $0.86 on Tuesday. Webus International has a 1 year low of $0.82 and a 1 year high of $143.00. The company’s 50-day moving average is $6.02 and its two-hundred day moving average is $45.89.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings cut Webus International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Wall Street Zen lowered Webus International to a “strong sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Webus International has a consensus rating of “Sell”.

About Webus International

Webus International Limited (NASDAQ: WETO) is a China-based mobility services company focused on providing intercity transportation solutions. Through its operating businesses, the company offers services designed to connect passengers between cities and other destinations.

Its reported service offerings include intercity shuttle transportation, customized bus services and charter bus arrangements. These services are intended to support individual passengers, groups and organizations seeking scheduled or tailored ground transportation.

Webus International was established in 2016 and is headquartered in Shanghai, China.