WeBuy Global Ltd. (NASDAQ:WBUY) Sees Significant Increase in Short Interest

WeBuy Global Ltd. (NASDAQ:WBUY) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 215,440 shares, an increase of 400.4% from the June 30th total of 43,055 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average daily volume of 571,071 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

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

WeBuy Global Stock Performance

NASDAQ WBUY traded down $0.27 on Friday, reaching $0.85. The company had a trading volume of 3,154,110 shares, compared to its average volume of 9,217,827. WeBuy Global has a 12 month low of $0.62 and a 12 month high of $7.19. The firm’s 50 day moving average price is $0.90 and its 200 day moving average price is $1.09.

WeBuy Global (NASDAQ:WBUY) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.20). The company had revenue of $4.86 million for the quarter, compared to the consensus estimate 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.