Wetouch Technology Inc. (NASDAQ:WETH) Stock Short Interest Declines 78.4%

Wetouch Technology Inc. (NASDAQ:WETH) saw a significant decrease in short interest in September. As of September 30th, there was short interest totaling 5,518 shares, a decrease of 78.4% from the September 15th total of 25,546 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 104,293 shares, the short-interest ratio is currently 0.1 days.

Wetouch Technology Price Performance

Wetouch Technology stock traded up $0.01 during trading hours on Tuesday, hitting $1.00. The company had a trading volume of 730 shares, compared to its average volume of 85,645. The firm has a market capitalization of $13.38 million, a P/E ratio of 1.43 and a beta of 0.73. The firm’s fifty day moving average is $1.11 and its 200-day moving average is $1.33. Wetouch Technology has a fifty-two week low of $0.91 and a fifty-two week high of $3.68.

Wetouch Technology (NASDAQ:WETH) last issued its earnings results on Friday, August 14th. The company reported $0.18 earnings per share (EPS) for the quarter. Wetouch Technology had a net margin of 17.57% and a return on equity of 5.94%. The company had revenue of $14.00 million during the quarter.

Wetouch Technology Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, August 17th were issued a dividend of $0.04 per share. The ex-dividend date was Monday, August 17th.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Wetouch Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 4th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Trading of Wetouch Technology

A hedge fund recently raised its position in Wetouch Technology stock. Lepercq De Neuflize Asset Management LLC grew its position in Wetouch Technology Inc. (NASDAQ:WETH) by 71.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,908 shares of the company’s stock after purchasing an additional 55,954 shares during the period. Wetouch Technology comprises about 0.1% of Lepercq De Neuflize Asset Management LLC’s holdings, making the stock its 9th largest position. Lepercq De Neuflize Asset Management LLC owned approximately 1.12% of Wetouch Technology worth $179,000 at the end of the most recent reporting period.

About Wetouch Technology

Wetouch Technology Inc is a China-based manufacturer of touch-screen products and display solutions. The company specializes in projected capacitive touch screens, including large-format and customized screens designed for commercial and industrial applications.

Its products are used in a range of end markets, including automotive, industrial control, medical equipment, financial and retail terminals, education, smart home devices, and other interactive display systems. Wetouch Technology provides touch-screen components and related display modules to original equipment manufacturers and other business customers.

The company serves customers primarily through its operations in China and has marketed its products to customers in international markets.