Euro Tech Holdings Company Limited (NASDAQ:CLWT) Sees Significant Drop in Short Interest

Euro Tech Holdings Company Limited (NASDAQ:CLWT) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 3,400 shares, a decline of 20.9% from the February 28th total of 4,300 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 14,600 shares, the days-to-cover ratio is presently 0.2 days.

Euro Tech Stock Up 1.2 %

Shares of CLWT stock opened at $1.25 on Monday. The firm’s 50 day moving average price is $1.28 and its two-hundred day moving average price is $1.42. Euro Tech has a 52-week low of $1.11 and a 52-week high of $1.94.

Euro Tech announced that its Board of Directors has approved a share repurchase program on Thursday, February 20th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Euro Tech

A hedge fund recently bought a new stake in Euro Tech stock. Garden State Investment Advisory Services LLC bought a new position in shares of Euro Tech Holdings Company Limited (NASDAQ:CLWT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 312,338 shares of the company’s stock, valued at approximately $509,000. Garden State Investment Advisory Services LLC owned 4.05% of Euro Tech at the end of the most recent quarter. 2.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Euro Tech in a research note on Wednesday, March 26th. They issued a “sell” rating on the stock.

Euro Tech Company Profile

Euro Tech Holdings Company Limited primarily distributes water treatment equipment, laboratory instruments, analyzers, test kits and related supplies, and power generation equipment to commercial customers, and governmental agencies in Hong Kong and the People's Republic of China. The company operates in two segments, Trading and Manufacturing, and Engineering.