Wetouch Technology Inc. (NASDAQ:WETH) Sees Significant Drop in Short Interest

Wetouch Technology Inc. (NASDAQ:WETH) saw a significant 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. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 324,500 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Wetouch Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Wetouch Technology during the third quarter worth about $31,000. Renaissance Technologies LLC purchased a new stake in shares of Wetouch Technology during the 4th quarter worth approximately $33,000. Virtu Financial LLC acquired a new stake in shares of Wetouch Technology in the 3rd quarter worth approximately $34,000. Finally, Lepercq De Neuflize Asset Management LLC purchased a new position in Wetouch Technology in the 4th quarter valued at approximately $120,000.

Wetouch Technology Price Performance

Shares of NASDAQ WETH traded up $0.06 during trading on Friday, hitting $1.55. 76,016 shares of the company were exchanged, compared to its average volume of 378,047. Wetouch Technology has a 1 year low of $1.13 and a 1 year high of $7.74. The firm’s fifty day moving average price is $1.63 and its 200 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.