Short Interest in Webus International Limited (NASDAQ:WETO) Drops By 99.0%

Webus International Limited (NASDAQ:WETO) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 6,089 shares, a decline of 99.0% from the July 30th total of 582,939 shares. Based on an average daily trading volume, of 6,212,576 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.6% of the company’s shares are short sold.

Webus International Price Performance

Webus International stock traded up $0.72 during mid-day trading on Tuesday, reaching $28.31. 138,221 shares of the company’s stock traded hands, compared to its average volume of 823,143. Webus International has a 12-month low of $2.70 and a 12-month high of $251.00. The stock has a 50 day moving average of $45.56 and a two-hundred day moving average of $56.25.

Analyst Ratings Changes

Several analysts have commented on WETO shares. Weiss Ratings lowered shares of Webus International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of Webus International to a “strong sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Webus International presently has a consensus rating of “Sell”.

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.