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

WeBuy Global Ltd. (NASDAQ:WBUY) was the target of a large drop in short interest in May. As of May 15th, there was short interest totaling 108,785 shares, a drop of 51.0% from the April 30th total of 222,184 shares. Based on an average daily volume of 35,242 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of WeBuy Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

WeBuy Global Price Performance

Shares of WeBuy Global stock traded down $0.02 on Wednesday, hitting $0.99. The company’s stock had a trading volume of 22,838 shares, compared to its average volume of 975,706. The firm has a fifty day moving average price of $1.13 and a 200-day moving average price of $1.33. WeBuy Global has a 52-week low of $0.87 and a 52-week high of $9.94.

WeBuy Global (NASDAQ:WBUY) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.20). The business 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.