Short Interest in WeBuy Global Ltd. (NASDAQ:WBUY) Declines By 77.2%

WeBuy Global Ltd. (NASDAQ:WBUY) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 105,232 shares, a drop of 77.2% from the July 30th total of 461,840 shares. Based on an average trading volume of 71,982 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.9% of the shares of the company are short sold.

WeBuy Global Stock Down 4.5%

Shares of WBUY stock opened at $0.83 on Friday. The stock has a fifty day moving average price of $0.83 and a 200 day moving average price of $0.99. WeBuy Global has a 1 year low of $0.62 and a 1 year high of $4.96.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered WeBuy Global from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, WeBuy Global currently has a consensus rating of “Sell”.

WeBuy Global Company Profile

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.