Wellchange Holdings Company Limited (NASDAQ:WCT) Short Interest Update

Wellchange Holdings Company Limited (NASDAQ:WCT) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 619,557 shares, an increase of 160.1% from the August 15th total of 238,191 shares. Currently, 106.8% of the shares of the stock are sold short. Based on an average trading volume of 2,148,878 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Wellchange stock. Citadel Advisors LLC purchased a new position in Wellchange Holdings Company Limited (NASDAQ:WCT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 89,621 shares of the company’s stock, valued at approximately $32,000. Citadel Advisors LLC owned 0.19% of Wellchange at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wellchange in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Wellchange Trading Down 3.0%

Shares of Wellchange stock opened at $7.15 on Friday. Wellchange has a 12 month low of $1.90 and a 12 month high of $125.00. The business’s 50-day moving average price is $5.17 and its 200-day moving average price is $10.11.

Wellchange (NASDAQ:WCT) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($3.08) EPS for the quarter. The business had revenue of $0.08 million for the quarter.

About Wellchange

Wellchange Holdings Company Limited, through its subsidiaries, operates as an enterprise software solution services provider in Hong Kong. The company provides tailor-made software solutions, cloud-based software-as-a-service (SaaS) solutions, and white-labelled software design and development services. The company also operates MR. CLOUD, a cloud-based SaaS enterprise resource planning software platform based on subscription services to support back-office and front-office functions, such as finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management, professional services automation, project and file management, human resources management, e-commerce, and marketing automation.