Wetouch Technology (NASDAQ:WETH) Trading Down 0.6% – Time to Sell?

Wetouch Technology Inc. (NASDAQ:WETH) traded down 0.6% during trading on Thursday . The stock traded as low as $1.68 and last traded at $1.77. 38,966 shares were traded during trading, a decline of 13% from the average session volume of 44,908 shares. The stock had previously closed at $1.78.

Analyst Ratings Changes

Several research firms have recently issued reports on WETH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wetouch Technology in a research report on Monday, December 29th. Wall Street Zen upgraded Wetouch Technology to a “hold” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Wetouch Technology Stock Performance

The firm’s 50-day moving average price is $1.67 and its two-hundred day moving average price is $1.66. The firm has a market cap of $19.57 million, a PE ratio of 2.65 and a beta of 0.33.

Hedge Funds Weigh In On Wetouch Technology

Several large investors have recently bought and sold shares of the stock. Lepercq De Neuflize Asset Management LLC increased its position in shares of Wetouch Technology by 71.8% during the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 133,908 shares of the company’s stock worth $179,000 after purchasing an additional 55,954 shares in the last quarter. Argentarii LLC grew its stake in Wetouch Technology by 15.9% during the 3rd quarter. Argentarii LLC now owns 109,318 shares of the company’s stock worth $137,000 after buying an additional 15,000 shares during the last quarter. Jane Street Group LLC grew its stake in Wetouch Technology by 176.6% during the 4th quarter. Jane Street Group LLC now owns 95,917 shares of the company’s stock worth $129,000 after buying an additional 61,237 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in Wetouch Technology during the fourth quarter worth approximately $126,000. Finally, Citadel Advisors LLC purchased a new stake in Wetouch Technology in the third quarter valued at approximately $86,000.

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.