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

WeBuy Global Ltd. (NASDAQ:WBUY) was the recipient of a significant drop in short interest in 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 daily volume of 71,982 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.9% of the shares of the stock are sold short.

Analyst Ratings Changes

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

WeBuy Global Price Performance

NASDAQ WBUY traded down $0.03 on Friday, hitting $0.84. The company had a trading volume of 15,667 shares, compared to its average volume of 1,809,239. The company’s fifty day moving average price is $0.83 and its 200-day moving average price is $1.00. WeBuy Global has a 12-month low of $0.62 and a 12-month high of $4.96.

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.