Short Interest in Wellchange Holdings Company Limited (NASDAQ:WCT) Expands By 160.1%

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

Wellchange Price Performance

Shares of NASDAQ:WCT traded down $0.41 during midday trading on Monday, hitting $6.74. The company had a trading volume of 314,598 shares, compared to its average volume of 293,588. Wellchange has a twelve month low of $1.90 and a twelve month high of $125.00. The business’s 50-day simple moving average is $5.17 and its 200-day simple moving average is $9.95.

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

Institutional Investors Weigh In On Wellchange

A hedge fund recently bought a new position in Wellchange stock. Citadel Advisors LLC bought a new position in shares of Wellchange Holdings Company Limited (NASDAQ:WCT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wellchange in a report on Tuesday, August 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Wellchange Company Profile

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.