Webus International Limited (NASDAQ:WETO) Sees Large Increase in Short Interest

Webus International Limited (NASDAQ:WETO) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 44,725 shares, a growth of 1,236.3% from the May 14th total of 3,347 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 320,923 shares, the short-interest ratio is currently 0.1 days.

Webus International Price Performance

Shares of WETO traded up $0.02 during midday trading on Tuesday, hitting $1.11. The company had a trading volume of 64,813 shares, compared to its average volume of 181,856. The company’s 50 day moving average price is $0.66 and its 200 day moving average price is $0.68. Webus International has a 52 week low of $0.36 and a 52 week high of $4.18.

Webus International (NASDAQ:WETO) last released its earnings results on Tuesday, April 28th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $0.68 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Webus International in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Webus International presently has an average rating of “Sell”.

Webus International Company Profile

Webus International Ltd. operates as a holding company. It engages in the provision of mobility solutions with artificial intelligence augmented online support and itinerary management support. The firm offers commute shuttle, customized chartered bus, packaged tour, and other services to customers. The company was founded on February 10, 2022 and is headquartered in Hangzhou, China.