Wetouch Technology (NASDAQ:WETH) Issues Quarterly Earnings Results

Wetouch Technology (NASDAQ:WETH) announced its quarterly earnings data on Wednesday. The company reported $0.21 EPS for the quarter, Zacks reports. The firm had revenue of $12.18 million during the quarter.

Wetouch Technology Stock Performance

WETH traded up $0.07 during midday trading on Friday, reaching $2.59. 23,557 shares of the company were exchanged, compared to its average volume of 197,650. The stock has a market capitalization of $30.90 million, a P/E ratio of 4.18 and a beta of 0.16. Wetouch Technology has a one year low of $0.76 and a one year high of $3.68. The stock’s 50-day simple moving average is $1.76 and its 200 day simple moving average is $1.23.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Wetouch Technology from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Wetouch Technology Company Profile

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.