Wetouch Technology Inc. (NASDAQ:WETH) Short Interest Down 56.2% in February

Wetouch Technology Inc. (NASDAQ:WETH) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 47,400 shares, a drop of 56.2% from the February 13th total of 108,300 shares. Based on an average daily trading volume, of 280,500 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WETH. Lepercq Multi Asset Fund purchased a new position in Wetouch Technology during the fourth quarter valued at approximately $120,000. Virtu Financial LLC raised 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 worth $108,000 after acquiring an additional 44,489 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Wetouch Technology during the fourth quarter worth about $33,000. Finally, XTX Topco Ltd acquired a new stake in Wetouch Technology during the 3rd quarter valued at approximately $31,000.

Wetouch Technology Trading Down 2.2 %

Shares of WETH opened at $1.36 on Thursday. The company has a 50-day moving average of $1.56 and a 200 day moving average of $1.69. Wetouch Technology has a 1-year low of $1.13 and a 1-year high of $5.10.

About Wetouch Technology

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.