Wetouch Technology (NASDAQ:WETH) Trading Down 0.7% – Here’s Why

Shares of Wetouch Technology Inc. (NASDAQ:WETH) dropped 0.7% during mid-day trading on Thursday . The company traded as low as $1.40 and last traded at $1.43. Approximately 22,591 shares were traded during trading, a decline of 92% from the average daily volume of 277,404 shares. The stock had previously closed at $1.44.

Wetouch Technology Trading Down 0.7 %

The stock’s fifty day moving average price is $1.58 and its 200-day moving average price is $1.70.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Lepercq Multi Asset Fund acquired a new position in Wetouch Technology in the 4th quarter valued at approximately $120,000. Virtu Financial LLC increased its stake in Wetouch Technology by 267.8% in the 4th quarter. Virtu Financial LLC now owns 61,103 shares of the company’s stock valued at $108,000 after buying an additional 44,489 shares during the period. Renaissance Technologies LLC acquired a new position in Wetouch Technology in the 4th quarter valued at approximately $33,000. Finally, XTX Topco Ltd acquired a new position in Wetouch Technology in the 3rd quarter valued at approximately $31,000.

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.