Wetouch Technology (NASDAQ:WETH) Announces Earnings Results

Wetouch Technology (NASDAQ:WETH) posted its earnings results on Friday. The company reported $0.18 EPS for the quarter, Zacks reports. Wetouch Technology had a return on equity of 6.18% and a net margin of 18.34%.

Wetouch Technology Stock Performance

WETH stock opened at $1.26 on Friday. The company has a market capitalization of $16.86 million, a P/E ratio of 1.77 and a beta of 0.80. The company has a fifty day moving average price of $1.25 and a 200-day moving average price of $1.47. Wetouch Technology has a 52-week low of $0.82 and a 52-week high of $3.68.

Wetouch Technology Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, August 17th.

Institutional Trading of Wetouch Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in Wetouch Technology by 12.2% during the 4th quarter. Renaissance Technologies LLC now owns 56,200 shares of the company’s stock worth $75,000 after purchasing an additional 6,100 shares during the last quarter. XTX Topco Ltd lifted its holdings in Wetouch Technology by 64.2% during the 4th quarter. XTX Topco Ltd now owns 33,537 shares of the company’s stock worth $45,000 after buying an additional 13,117 shares during the period. Jane Street Group LLC grew its position in shares of Wetouch Technology by 176.6% in the 4th quarter. Jane Street Group LLC now owns 95,917 shares of the company’s stock valued at $129,000 after buying an additional 61,237 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Wetouch Technology in the 3rd quarter valued at about $86,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Wetouch Technology in the 4th quarter valued at about $126,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Wetouch Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

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.