Short Interest in Webus International Limited (NASDAQ:WETO) Decreases By 87.2%

Webus International Limited (NASDAQ:WETO) saw a large decline in short interest in May. As of May 15th, there was short interest totaling 3,347 shares, a decline of 87.2% from the April 30th total of 26,122 shares. Based on an average daily trading volume, of 43,286 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Webus International Stock Down 2.9%

Shares of WETO traded down $0.03 during midday trading on Friday, reaching $1.01. The stock had a trading volume of 97,146 shares, compared to its average volume of 171,878. Webus International has a 52 week low of $0.36 and a 52 week high of $4.25. The firm’s 50 day moving average price is $0.60 and its 200-day moving average price is $0.68.

Webus International’s stock is scheduled to reverse split on Tuesday, June 2nd. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 1st.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Webus International in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Webus International presently has a consensus rating of “Sell”.

Webus International Company Profile

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.