WeBuy Global Ltd. (NASDAQ:WBUY) Short Interest Up 400.4% in July

WeBuy Global Ltd. (NASDAQ:WBUY) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 215,440 shares, a growth of 400.4% from the June 30th total of 43,055 shares. Based on an average daily volume of 571,071 shares, the days-to-cover ratio is currently 0.4 days. Approximately 3.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded WeBuy Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, WeBuy Global currently has a consensus rating of “Sell”.

WeBuy Global Stock Performance

Shares of WBUY traded down $0.27 during trading hours on Friday, hitting $0.85. 3,154,110 shares of the company were exchanged, compared to its average volume of 9,217,827. WeBuy Global has a fifty-two week low of $0.62 and a fifty-two week high of $7.19. The firm’s fifty day moving average is $0.90 and its 200 day moving average is $1.09.

WeBuy Global (NASDAQ:WBUY) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.20). The company had revenue of $4.86 million during the quarter, compared to analyst estimates of $67.20 million.

WeBuy Global Company Profile

WeBuy Global Holdings Ltd (NASDAQ: WBUY) is a Cayman Islands–registered e-commerce company that operates a vertically integrated platform for sourcing, marketing and distributing consumer goods to both international and domestic markets. The company is primarily engaged in two business segments: cross-border e-commerce, which focuses on selling factory-direct and overstock products to overseas consumers, and domestic distribution and wholesale, which provides supply-chain and bulk-sales services to retailers and third-party platforms within China.

In its cross-border e-commerce segment, WeBuy Global leverages proprietary online channels and partnerships with major global marketplaces to offer categories such as home and kitchen appliances, furniture and home décor, personal care items and small electronics.