Euro Tech Holdings Company Limited (NASDAQ:CLWT) Sees Large Decrease in Short Interest

Euro Tech Holdings Company Limited (NASDAQ:CLWT) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 63,500 shares, a decline of 25.7% from the May 15th total of 85,500 shares. Based on an average daily volume of 75,400 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.9% of the company’s stock are short sold.

Euro Tech Price Performance

CLWT stock opened at $1.12 on Thursday. The stock’s fifty day simple moving average is $1.17 and its two-hundred day simple moving average is $1.27. Euro Tech has a 1-year low of $1.01 and a 1-year high of $1.84.

Euro Tech declared that its Board of Directors has authorized a share buyback program on Thursday, February 20th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on shares of Euro Tech in a research report on Wednesday, May 21st. They set a “sell” rating on the stock.

Euro Tech Company Profile

Euro Tech Holdings Company Limited primarily distributes water treatment equipment, laboratory instruments, analyzers, test kits and related supplies, and power generation equipment to commercial customers, and governmental agencies in Hong Kong and the People's Republic of China. The company operates in two segments, Trading and Manufacturing, and Engineering.