Short Interest in WeBuy Global Ltd. (NASDAQ:WBUY) Declines By 37.3%

WeBuy Global Ltd. (NASDAQ:WBUY) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 68,261 shares, a drop of 37.3% from the May 14th total of 108,785 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 18,512 shares, the short-interest ratio is currently 3.7 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of WeBuy Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

WeBuy Global Stock Performance

WBUY stock opened at $0.95 on Monday. The firm’s fifty day moving average is $1.14 and its 200 day moving average is $1.30. WeBuy Global has a one year low of $0.85 and a one year high of $9.78.

WeBuy Global (NASDAQ:WBUY) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.20). The company had revenue of $4.86 million for the quarter, compared to the consensus estimate of $67.20 million.

About WeBuy Global

WeBuy Global Holdings Ltd (NASDAQ: WBUY) is a Cayman Islands–registered e-commerce company that operates a vertically integrated platform for sourcing, marketing and distributing consumer goods to both international and domestic markets. The company is primarily engaged in two business segments: cross-border e-commerce, which focuses on selling factory-direct and overstock products to overseas consumers, and domestic distribution and wholesale, which provides supply-chain and bulk-sales services to retailers and third-party platforms within China.

In its cross-border e-commerce segment, WeBuy Global leverages proprietary online channels and partnerships with major global marketplaces to offer categories such as home and kitchen appliances, furniture and home décor, personal care items and small electronics.