Wellchange Holdings Company Limited (NASDAQ:WCT) Sees Large Growth in Short Interest

Wellchange Holdings Company Limited (NASDAQ:WCT) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 209,998 shares, an increase of 2,418.6% from the May 31st total of 8,338 shares. Approximately 6.8% of the company’s stock are sold short. Based on an average trading volume of 16,600,751 shares, the short-interest ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Wellchange from a “sell (d)” rating to a “sell (e+)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Wellchange Stock Up 9.1%

Wellchange stock traded up $0.10 during midday trading on Thursday, reaching $1.20. The company’s stock had a trading volume of 248,323 shares, compared to its average volume of 1,568,177. The business has a 50-day simple moving average of $1.84 and a 200-day simple moving average of $5.03. Wellchange has a fifty-two week low of $0.90 and a fifty-two week high of $25.00.

Wellchange (NASDAQ:WCT) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter. The business had revenue of $0.08 million for the quarter.

Hedge Funds Weigh In On Wellchange

A hedge fund recently bought a new stake in Wellchange stock. Citadel Advisors LLC bought a new position in shares of Wellchange Holdings Company Limited (NASDAQ:WCT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 89,621 shares of the company’s stock, valued at approximately $32,000. Citadel Advisors LLC owned approximately 0.19% of Wellchange as of its most recent filing with the Securities and Exchange Commission (SEC).

Wellchange Company Profile

Wellchange Holdings Company Limited, through its subsidiaries, operates as an enterprise software solution services provider in Hong Kong. The company provides tailor-made software solutions, cloud-based software-as-a-service (SaaS) solutions, and white-labelled software design and development services. The company also operates MR. CLOUD, a cloud-based SaaS enterprise resource planning software platform based on subscription services to support back-office and front-office functions, such as finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management, professional services automation, project and file management, human resources management, e-commerce, and marketing automation.