Wellchange Holdings Company Limited (NASDAQ:WCT) Sees Large Increase in Short Interest

Wellchange Holdings Company Limited (NASDAQ:WCT) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 285,698 shares, a growth of 402.4% from the September 15th total of 56,867 shares. Based on an average daily volume of 1,230,377 shares, the days-to-cover ratio is currently 0.2 days. Currently, 49.3% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WCT shares. Wall Street Zen cut Wellchange from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wellchange in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Wellchange Stock Up 2.9%

Shares of NASDAQ:WCT traded up $0.03 during mid-day trading on Friday, hitting $0.98. The stock had a trading volume of 232,828 shares, compared to its average volume of 1,405,138. Wellchange has a 12-month low of $0.86 and a 12-month high of $102.00. The company’s 50 day moving average is $5.35 and its 200-day moving average is $7.50.

About Wellchange

Wellchange (NASDAQ: WCT), also known as Wellchange Holdings Company Limited, is an information technology services company. The company provides technology-related solutions intended to support organizations with their digital infrastructure and business operations.

Its services include IT consulting, systems integration, software and technology implementation, and ongoing technical support. Wellchange works with businesses seeking to deploy, manage, and maintain information technology systems, although publicly available information about its specific products and customer industries is limited.

Wellchange is listed on the Nasdaq Stock Market under the symbol WCT.