Wetouch Technology (NASDAQ:WETH) Shares Down 0.1% – Time to Sell?

Wetouch Technology Inc. (NASDAQ:WETH)’s share price dropped 0.1% during trading on Wednesday. The stock traded as low as $0.95 and last traded at $0.9738. Approximately 29,672 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 78,936 shares. The stock had previously closed at $0.9750.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Wetouch Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Wetouch Technology has a consensus rating of “Sell”.

Wetouch Technology Trading Down 0.6%

The stock has a market capitalization of $12.45 million, a price-to-earnings ratio of 1.33 and a beta of 0.73. The firm’s fifty day moving average price is $1.12 and its 200 day moving average price is $1.33.

Wetouch Technology (NASDAQ:WETH) last posted its earnings results on Friday, August 14th. The company reported $0.18 earnings per share for the quarter. Wetouch Technology had a net margin of 17.57% and a return on equity of 5.94%. The firm had revenue of $14.00 million during the quarter.

Wetouch Technology Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, August 17th were paid a $0.04 dividend. The ex-dividend date of this dividend was Monday, August 17th.

Hedge Funds Weigh In On Wetouch Technology

An institutional investor recently raised its position in Wetouch Technology stock. Lepercq De Neuflize Asset Management LLC raised its position in Wetouch Technology Inc. (NASDAQ:WETH) by 71.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,908 shares of the company’s stock after acquiring an additional 55,954 shares during the quarter. Wetouch Technology makes up approximately 0.1% of Lepercq De Neuflize Asset Management LLC’s portfolio, making the stock its 9th biggest position. Lepercq De Neuflize Asset Management LLC owned 1.12% of Wetouch Technology worth $179,000 at the end of the most recent quarter.

Wetouch Technology Company Profile

Wetouch Technology Inc is a China-based manufacturer of touch-screen products and display solutions. The company specializes in projected capacitive touch screens, including large-format and customized screens designed for commercial and industrial applications.

Its products are used in a range of end markets, including automotive, industrial control, medical equipment, financial and retail terminals, education, smart home devices, and other interactive display systems. Wetouch Technology provides touch-screen components and related display modules to original equipment manufacturers and other business customers.

The company serves customers primarily through its operations in China and has marketed its products to customers in international markets.