Wellchange Holdings Company Limited (NASDAQ:WCT) Sees Large Growth in Short Interest

Wellchange Holdings Company Limited (NASDAQ:WCT) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 238,191 shares, a growth of 111.3% from the July 30th total of 112,723 shares. Based on an average daily trading volume, of 3,385,279 shares, the days-to-cover ratio is presently 0.1 days. Approximately 7.8% of the shares of the company are short sold.

Wellchange Stock Performance

Shares of WCT opened at $1.09 on Monday. The firm has a 50-day moving average price of $0.99 and a 200 day moving average price of $2.39. Wellchange has a 52-week low of $0.38 and a 52-week high of $25.00.

Wellchange (NASDAQ:WCT) last released its earnings results on Wednesday, May 13th. The company reported ($0.62) EPS for the quarter. The business had revenue of $0.08 million for the quarter.

Institutional Investors Weigh In On Wellchange

A hedge fund recently bought a new stake in Wellchange stock. Citadel Advisors LLC bought a new position in Wellchange Holdings Company Limited (NASDAQ:WCT) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 89,621 shares of the company’s stock, valued at approximately $32,000. Citadel Advisors LLC owned 0.19% of Wellchange at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Wellchange in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Wellchange Company Profile

Wellchange Holdings Company Limited, through its subsidiaries, operates as an enterprise software solution services provider in Hong Kong. The company provides tailor-made software solutions, cloud-based software-as-a-service (SaaS) solutions, and white-labelled software design and development services. The company also operates MR. CLOUD, a cloud-based SaaS enterprise resource planning software platform based on subscription services to support back-office and front-office functions, such as finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management, professional services automation, project and file management, human resources management, e-commerce, and marketing automation.