Wellchange Holdings Company Limited (NASDAQ:WCT) Short Interest Up 2,418.6% in June

Wellchange Holdings Company Limited (NASDAQ:WCT) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 209,998 shares, a growth of 2,418.6% from the May 31st total of 8,338 shares. Based on an average daily volume of 16,600,751 shares, the days-to-cover ratio is currently 0.0 days. Approximately 6.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Wellchange from a “sell (d)” rating to a “sell (e+)” rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Wellchange currently has a consensus rating of “Sell”.

Wellchange Stock Up 9.1%

WCT stock opened at $1.20 on Friday. The firm’s 50-day simple moving average is $1.81 and its 200 day simple moving average is $4.95. Wellchange has a fifty-two week low of $0.90 and a fifty-two week high of $25.00.

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

Hedge Funds Weigh In On Wellchange

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

Wellchange Company Profile

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.