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

Webus International Limited (NASDAQ:WETO) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 316,482 shares, a decrease of 85.4% from the September 30th total of 2,164,479 shares. Currently, 29.3% of the company’s shares are sold short. Based on an average daily volume of 13,136,258 shares, the days-to-cover ratio is presently 0.0 days.

Webus International Stock Down 2.0%

Shares of WETO stock opened at $0.84 on Wednesday. The business’s fifty day moving average is $5.39 and its 200 day moving average is $45.05. Webus International has a twelve month low of $0.81 and a twelve month high of $143.00.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Webus International to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings lowered Webus International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of “Sell”.

Webus International Company Profile

Webus International Limited (NASDAQ: WETO) is a China-based mobility services company focused on providing intercity transportation solutions. Through its operating businesses, the company offers services designed to connect passengers between cities and other destinations.

Its reported service offerings include intercity shuttle transportation, customized bus services and charter bus arrangements. These services are intended to support individual passengers, groups and organizations seeking scheduled or tailored ground transportation.

Webus International was established in 2016 and is headquartered in Shanghai, China.