Webus International Limited (NASDAQ:WETO) Sees Significant Decrease in Short Interest

Webus International Limited (NASDAQ:WETO) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 3,347 shares, a decrease of 87.2% from the April 30th total of 26,122 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 43,286 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Webus International in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Webus International presently has a consensus rating of “Sell”.

Webus International Price Performance

NASDAQ WETO traded down $0.02 during mid-day trading on Thursday, reaching $1.01. 75,275 shares of the stock were exchanged, compared to its average volume of 1,166,279. The stock has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.68. Webus International has a one year low of $0.36 and a one year high of $4.25.

Webus International’s stock is set to reverse split on the morning of Tuesday, June 2nd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 1st.

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

About Webus International

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.