Wetouch Technology Inc. (NASDAQ:WETH) Sees Large Decline in Short Interest

Wetouch Technology Inc. (NASDAQ:WETH) was the target of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 119,200 shares, a drop of 59.8% from the January 15th total of 296,200 shares. Based on an average daily trading volume, of 324,500 shares, the short-interest ratio is presently 0.4 days. Currently, 1.0% of the company’s shares are sold short.

Hedge Funds Weigh In On Wetouch Technology

Several hedge funds and other institutional investors have recently bought and sold shares of WETH. XTX Topco Ltd acquired a new stake in Wetouch Technology during the 3rd quarter worth about $31,000. Virtu Financial LLC bought a new stake in shares of Wetouch Technology during the 3rd quarter valued at about $34,000. Finally, Lepercq Multi Asset Fund acquired a new stake in Wetouch Technology during the fourth quarter worth approximately $120,000.

Wetouch Technology Price Performance

WETH opened at $1.49 on Thursday. Wetouch Technology has a fifty-two week low of $1.13 and a fifty-two week high of $8.20. The company’s 50 day moving average price is $1.63 and its two-hundred day moving average price is $1.71.

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.