WeBuy Global Ltd. (NASDAQ:WBUY) Short Interest Down 77.2% in August

WeBuy Global Ltd. (NASDAQ:WBUY) was the target of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 105,232 shares, a drop of 77.2% from the July 30th total of 461,840 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 71,982 shares, the short-interest ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of WeBuy Global in a research report on Wednesday, August 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

WeBuy Global Trading Up 2.3%

WBUY stock traded up $0.02 during midday trading on Thursday, reaching $0.87. The stock had a trading volume of 23,274 shares, compared to its average volume of 86,480. WeBuy Global has a 52-week low of $0.62 and a 52-week high of $4.96. The company’s fifty day simple moving average is $0.83 and its 200 day simple moving average is $1.00.

WeBuy Global Company Profile

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.