WeBuy Global Ltd. (NASDAQ:WBUY) Short Interest Down 37.3% in May

WeBuy Global Ltd. (NASDAQ:WBUY) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 68,261 shares, a decrease of 37.3% from the May 14th total of 108,785 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 18,512 shares, the days-to-cover ratio is presently 3.7 days.

Wall Street Analysts Forecast Growth

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

WeBuy Global Stock Down 4.5%

NASDAQ:WBUY opened at $0.91 on Tuesday. The firm’s 50-day moving average price is $1.14 and its 200-day moving average price is $1.29. WeBuy Global has a 1-year low of $0.85 and a 1-year high of $9.78.

WeBuy Global (NASDAQ:WBUY) last released its earnings results on Wednesday, April 29th. The company reported $1.00 earnings per share 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 analysts’ expectations 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.