Wetouch Technology Inc. (NASDAQ:WETH) Sees Large Decrease in Short Interest

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 151,900 shares, a drop of 30.0% from the October 15th total of 217,100 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 248,300 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Wetouch Technology

An institutional investor recently bought a new position in Wetouch Technology stock. Murchinson Ltd. purchased a new stake in Wetouch Technology Inc. (NASDAQ:WETH) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,000 shares of the company’s stock, valued at approximately $68,000. Murchinson Ltd. owned about 0.25% of Wetouch Technology at the end of the most recent reporting period.

Wetouch Technology Price Performance

Shares of NASDAQ:WETH opened at $1.66 on Friday. Wetouch Technology has a 1-year low of $1.13 and a 1-year high of $8.20. The business has a 50-day moving average price of $1.82 and a two-hundred day moving average price of $1.91.

Wetouch Technology (NASDAQ:WETH) last released its 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.

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.