Wetouch Technology Inc. (NASDAQ:WETH) Short Interest Up 23.0% in December

Wetouch Technology Inc. (NASDAQ:WETH) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 104,674 shares, an increase of 23.0% from the November 30th total of 85,092 shares. Based on an average daily volume of 64,754 shares, the short-interest ratio is presently 1.6 days. Approximately 0.9% of the company’s shares are sold short. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 64,754 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WETH shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Wetouch Technology in a report on Monday. Wall Street Zen upgraded Wetouch Technology to a “hold” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Wetouch Technology presently has an average rating of “Hold”.

Wetouch Technology Price Performance

Shares of WETH opened at $1.34 on Friday. The company has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $1.43. The firm has a market capitalization of $15.99 million, a PE ratio of 2.16 and a beta of 0.24. Wetouch Technology has a one year low of $0.76 and a one year high of $3.68.

Wetouch Technology (NASDAQ:WETH) last posted its earnings results on Wednesday, November 12th. The company reported $0.21 earnings per share for the quarter. The firm had revenue of $12.18 million for the quarter. Wetouch Technology had a return on equity of 5.73% and a net margin of 17.10%.

Hedge Funds Weigh In On Wetouch Technology

An institutional investor recently bought a new position in Wetouch Technology stock. Citadel Advisors LLC bought a new position in Wetouch Technology Inc. (NASDAQ:WETH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 69,468 shares of the company’s stock, valued at approximately $86,000. Citadel Advisors LLC owned approximately 0.58% of Wetouch Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

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.