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

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

Wall Street Analysts Forecast Growth

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

WeBuy Global Trading Down 8.0%

WBUY opened at $0.84 on Wednesday. The business’s 50-day simple moving average is $1.13 and its 200-day simple moving average is $1.29. WeBuy Global has a one year low of $0.84 and a one year high of $9.78.

WeBuy Global (NASDAQ:WBUY) last issued 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 company had revenue of $4.86 million during 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.