Wetouch Technology (NASDAQ:WETH) Releases Earnings Results

Wetouch Technology (NASDAQ:WETH) issued its earnings results on Monday. The company reported ($0.01) earnings per share (EPS) for the quarter, Zacks reports. Wetouch Technology had a return on equity of 5.73% and a net margin of 17.10%.

Wetouch Technology Price Performance

Shares of WETH opened at $1.37 on Tuesday. The stock’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.73. The stock has a market cap of $16.35 million, a PE ratio of 2.21 and a beta of 0.47. Wetouch Technology has a 12 month low of $0.76 and a 12 month high of $3.68.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wetouch Technology in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Wetouch Technology

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC boosted its holdings in Wetouch Technology by 176.6% in the 4th quarter. Jane Street Group LLC now owns 95,917 shares of the company’s stock worth $129,000 after acquiring an additional 61,237 shares during the period. Bridgeway Capital Management LLC purchased a new stake in shares of Wetouch Technology during the fourth quarter valued at approximately $126,000. Citadel Advisors LLC acquired a new position in shares of Wetouch Technology during the third quarter worth $86,000. Renaissance Technologies LLC boosted its stake in shares of Wetouch Technology by 12.2% in the fourth quarter. Renaissance Technologies LLC now owns 56,200 shares of the company’s stock valued at $75,000 after purchasing an additional 6,100 shares during the period. Finally, XTX Topco Ltd boosted its stake in shares of Wetouch Technology by 64.2% in the fourth quarter. XTX Topco Ltd now owns 33,537 shares of the company’s stock valued at $45,000 after purchasing an additional 13,117 shares during the period.

About Wetouch Technology

Wetouch Technology Inc engages in the research, development, manufacture, sale, and servicing of medium to large sized projected capacitive touchscreens in the Peoples Republic of China, Taiwan, South Korea, and internationally. The company offers various touch panels, including glass-glass, which are primarily used in GPS/car entertainment panels in mid-size and luxury cars, industrial human-machine interface (HMI), financial and banking terminals, point of sale, and lottery machines; glass-film-film products that are used in GPS and entertainment panels, industrial HMI, financial and banking terminals, lottery, and gaming industry; plastic-glass for use in GPS/entertainment panels, motor vehicle GPS, smart home products, robots, and charging stations; and glass-films used in industrial HMI.