WeBuy Global Ltd. (NASDAQ:WBUY) Sees Large Increase in Short Interest

WeBuy Global Ltd. (NASDAQ:WBUY) was the recipient of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 222,184 shares, a growth of 73.1% from the April 15th total of 128,381 shares. Based on an average daily trading volume, of 2,547,515 shares, the short-interest ratio is presently 0.1 days. Approximately 18.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of WeBuy Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

WeBuy Global Price Performance

Shares of WBUY opened at $1.13 on Wednesday. The firm has a 50-day moving average of $1.11 and a 200-day moving average of $1.41. WeBuy Global has a one year low of $0.87 and a one year high of $9.94.

WeBuy Global (NASDAQ:WBUY) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.20). The firm had revenue of $4.86 million for the quarter, compared to the consensus estimate of $67.20 million.

About WeBuy Global

WeBuy Global Holdings Ltd (NASDAQ: WBUY) is a Cayman Islands–registered e-commerce company that operates a vertically integrated platform for sourcing, marketing and distributing consumer goods to both international and domestic markets. The company is primarily engaged in two business segments: cross-border e-commerce, which focuses on selling factory-direct and overstock products to overseas consumers, and domestic distribution and wholesale, which provides supply-chain and bulk-sales services to retailers and third-party platforms within China.

In its cross-border e-commerce segment, WeBuy Global leverages proprietary online channels and partnerships with major global marketplaces to offer categories such as home and kitchen appliances, furniture and home décor, personal care items and small electronics.