Meiwu Technology Company Limited (NASDAQ:WNW) Sees Significant Growth in Short Interest

Meiwu Technology Company Limited (NASDAQ:WNW) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 31,458 shares, a growth of 267.8% from the June 15th total of 8,553 shares. Currently, 19.7% of the company’s stock are sold short. Based on an average daily volume of 1,611,473 shares, the days-to-cover ratio is presently 0.0 days.

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 9,054 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $3.66, for a total value of $33,137.64. Following the completion of the sale, the insider directly owned 13,918 shares of the company’s stock, valued at $50,939.88. This represents a 39.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Meiwu Technology Stock Down 6.7%

WNW opened at $3.63 on Tuesday. Meiwu Technology has a fifty-two week low of $2.25 and a fifty-two week high of $1,352.00. The business has a 50-day moving average of $3.53 and a 200-day moving average of $68.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WNW shares. Weiss Ratings downgraded shares of Meiwu Technology from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Wall Street Zen lowered shares of Meiwu Technology to a “strong sell” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Meiwu Technology currently has a consensus rating of “Sell”.

About Meiwu Technology

Wunong Net Technology Company Limited, a holding company, engages in the online retail of foods products in China. The company offers green food, organic food, intangible cultural heritage food, agricultural products, and pollution-free products. It also operates a restaurant under the Wunong Food Hall name; and engages in the wholesale of agricultural products. The company was formerly known as Advancement International Limited and changed its name to Wunong Net Technology Company Limited in August 2019.