UTime Limited (NASDAQ:WTO) Sees Large Drop in Short Interest

UTime Limited (NASDAQ:WTO) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 306,900 shares, a decrease of 55.8% from the February 28th total of 694,100 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 674,700 shares, the days-to-cover ratio is currently 0.5 days.

UTime Stock Performance

Shares of WTO opened at $0.17 on Friday. The business has a 50-day simple moving average of $0.25 and a two-hundred day simple moving average of $0.35. UTime has a 52 week low of $0.15 and a 52 week high of $62.25.

UTime’s stock is scheduled to reverse split on Monday, March 31st. The 1-10 reverse split was announced on Wednesday, March 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 28th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in UTime stock. XTX Topco Ltd acquired a new position in shares of UTime Limited (NASDAQ:WTO) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 120,771 shares of the company’s stock, valued at approximately $38,000. XTX Topco Ltd owned approximately 0.67% of UTime at the end of the most recent reporting period. Institutional investors and hedge funds own 1.07% of the company’s stock.

UTime Company Profile

UTime Limited, together with its subsidiaries, designs, develops, manufactures, sells, and operates mobile phones, accessories, and related consumer electronics. The company offers consumer electronics, such as power banks, bluetooth speakers, batteries, chargers, cell phone parts, molds, and shells.