Wellchange (NASDAQ:WCT) Stock Scheduled to Reverse Split on Tuesday, September 8th

Wellchange Holdings Company Limited (NASDAQ:WCT)’s stock is going to reverse split on the morning of Tuesday, September 8th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, September 7th.

Wellchange Trading Up 14.2%

Shares of NASDAQ WCT opened at $1.37 on Friday. The firm’s 50-day moving average price is $1.00 and its 200-day moving average price is $2.21. Wellchange has a 1-year low of $0.38 and a 1-year high of $25.00.

Wellchange (NASDAQ:WCT) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter. The firm had revenue of $0.08 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wellchange in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Wellchange presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Wellchange stock. Citadel Advisors LLC purchased a new position in shares of Wellchange Holdings Company Limited (NASDAQ:WCT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 89,621 shares of the company’s stock, valued at approximately $32,000. Citadel Advisors LLC owned about 0.19% of Wellchange as of its most recent filing with the Securities and Exchange Commission (SEC).

About Wellchange

Wellchange Holdings Company Limited, through its subsidiaries, operates as an enterprise software solution services provider in Hong Kong. The company provides tailor-made software solutions, cloud-based software-as-a-service (SaaS) solutions, and white-labelled software design and development services. The company also operates MR. CLOUD, a cloud-based SaaS enterprise resource planning software platform based on subscription services to support back-office and front-office functions, such as finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management, professional services automation, project and file management, human resources management, e-commerce, and marketing automation.