Webus International Limited (NASDAQ:WETO) Sees Large Decline in Short Interest

Webus International Limited (NASDAQ:WETO) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 316,482 shares, a decline of 85.4% from the September 30th total of 2,164,479 shares. Currently, 29.3% of the shares of the company are short sold. Based on an average daily volume of 13,136,258 shares, the short-interest ratio is currently 0.0 days.

Webus International Stock Up 0.6%

Shares of WETO stock opened at $0.86 on Tuesday. Webus International has a 1 year low of $0.82 and a 1 year high of $143.00. The firm’s fifty day simple moving average is $6.02 and its 200 day simple moving average is $45.89.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wall Street Zen cut Webus International to a “strong sell” rating in a research report on Saturday, August 22nd. Weiss Ratings lowered Webus International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Webus International Company Profile

Webus International Limited (NASDAQ: WETO) is a China-based mobility services company focused on providing intercity transportation solutions. Through its operating businesses, the company offers services designed to connect passengers between cities and other destinations.

Its reported service offerings include intercity shuttle transportation, customized bus services and charter bus arrangements. These services are intended to support individual passengers, groups and organizations seeking scheduled or tailored ground transportation.

Webus International was established in 2016 and is headquartered in Shanghai, China.