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

Wellchange Holdings Company Limited (NASDAQ:WCT) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 238,191 shares, a growth of 111.3% from the July 30th total of 112,723 shares. Based on an average daily volume of 3,385,279 shares, the short-interest ratio is presently 0.1 days. Currently, 7.8% of the company’s stock are sold short.

Hedge Funds Weigh In On Wellchange

An institutional investor recently bought a new position in Wellchange stock. Citadel Advisors LLC purchased a new position in Wellchange Holdings Company Limited (NASDAQ:WCT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 89,621 shares of the company’s stock, valued at approximately $32,000. Citadel Advisors LLC owned about 0.19% of Wellchange at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Wellchange in a report on Tuesday, August 18th. One investment 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 45.5%

Wellchange stock opened at $1.09 on Friday. Wellchange has a 12 month low of $0.38 and a 12 month high of $25.00. The company has a fifty day moving average price of $0.99 and a two-hundred day moving average price of $2.42.

Wellchange (NASDAQ:WCT) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter. The firm 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.