Wetouch Technology (NASDAQ:WETH) Announces Earnings Results

Wetouch Technology (NASDAQ:WETH – Get Free Report) posted its earnings results on Friday. The company reported $0.18 earnings per share (EPS) for the quarter, Zacks reports. Wetouch Technology had a return on equity of 6.18% and a net margin of 18.34%.

Wetouch Technology Stock Up 1.6%

Shares of NASDAQ:WETH traded up $0.02 on Friday, hitting $1.26. 20,134 shares of the company traded hands, compared to its average volume of 92,919. The stock has a 50 day simple moving average of $1.25 and a 200-day simple moving average of $1.47. The company has a market cap of $16.86 million, a PE ratio of 1.77 and a beta of 0.80. Wetouch Technology has a 52 week low of $0.82 and a 52 week high of $3.68.

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Wetouch Technology Dividend Announcement

The business also recently declared a special dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, August 17th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WETH. XTX Topco Ltd increased its position in shares of Wetouch Technology by 64.2% during the fourth quarter. XTX Topco Ltd now owns 33,537 shares of the company’s stock valued at $45,000 after acquiring an additional 13,117 shares in the last quarter. Renaissance Technologies LLC raised 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 worth $75,000 after purchasing an additional 6,100 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Wetouch Technology during the third quarter valued at $86,000. Bridgeway Capital Management LLC purchased a new stake in shares of Wetouch Technology during the fourth quarter valued at $126,000. Finally, Jane Street Group LLC boosted its holdings in shares of Wetouch Technology by 176.6% during the 4th quarter. Jane Street Group LLC now owns 95,917 shares of the company’s stock valued at $129,000 after acquiring an additional 61,237 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Wetouch Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

View Our Latest Research Report on Wetouch Technology

About Wetouch Technology

(Get Free Report)

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.

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