Wetouch Technology Inc.’s (NASDAQ:WETH) Lock-Up Period Will End Tomorrow

Wetouch Technology’s (NASDAQ:WETH) lock-up period is set to expire on Monday, August 19th. Wetouch Technology had issued 2,160,000 shares in its initial public offering on February 21st. The total size of the offering was $10,800,000 based on an initial share price of $5.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wetouch Technology Trading Up 6.3 %

Shares of NASDAQ WETH opened at $2.03 on Friday. The firm has a 50-day moving average price of $2.20 and a 200 day moving average price of $2.79. Wetouch Technology has a 52 week low of $1.13 and a 52 week high of $18.50.

Wetouch Technology (NASDAQ:WETH) last released its quarterly earnings data on Friday, June 14th. The company reported $0.04 earnings per share for the quarter. The firm had revenue of $14.88 million during the quarter.

Institutional Trading of Wetouch Technology

An institutional investor recently bought a new position in Wetouch Technology stock. Murchinson Ltd. bought a new position in Wetouch Technology Inc. (NASDAQ:WETH) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,000 shares of the company’s stock, valued at approximately $68,000. Murchinson Ltd. owned 0.25% of Wetouch Technology as of its most recent filing with the Securities and Exchange Commission.

About Wetouch Technology

Wetouch Technology Inc engages in the research, development, manufacture, sale, and servicing of medium to large sized projected capacitive touchscreens in the Peoples Republic of China, Taiwan, South Korea, and internationally. The company offers various touch panels, including glass-glass, which are primarily used in GPS/car entertainment panels in mid-size and luxury cars, industrial human-machine interface (HMI), financial and banking terminals, point of sale, and lottery machines; glass-film-film products that are used in GPS and entertainment panels, industrial HMI, financial and banking terminals, lottery, and gaming industry; plastic-glass for use in GPS/entertainment panels, motor vehicle GPS, smart home products, robots, and charging stations; and glass-films used in industrial HMI.