Webus International Limited (NASDAQ:WETO) Sees Large Increase in Short Interest

Webus International Limited (NASDAQ:WETO) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 62,496 shares, an increase of 90.3% from the June 30th total of 32,846 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 163,212 shares, the short-interest ratio is currently 0.4 days.

Webus International Stock Up 200.0%

Shares of NASDAQ WETO opened at $0.09 on Friday. Webus International has a 1-year low of $0.03 and a 1-year high of $2.51. The business has a 50-day moving average of $0.76 and a 200-day moving average of $0.63.

Shares of Webus International are scheduled to reverse split on the morning of Monday, August 3rd. The 1-100 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 2nd.

Webus International (NASDAQ:WETO) last announced its earnings results on Tuesday, April 28th. The company reported ($0.04) EPS for the quarter. The company had revenue of $0.68 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings cut Webus International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Webus International has an average rating of “Sell”.

About Webus International

Webus International Ltd. operates as a holding company. It engages in the provision of mobility solutions with artificial intelligence augmented online support and itinerary management support. The firm offers commute shuttle, customized chartered bus, packaged tour, and other services to customers. The company was founded on February 10, 2022 and is headquartered in Hangzhou, China.