Wellchange Holdings Company Limited (NASDAQ:WCT) Sees Large Increase in Short Interest

Wellchange Holdings Company Limited (NASDAQ:WCT) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 238,191 shares, an increase of 111.3% from the July 30th total of 112,723 shares. Approximately 7.8% of the company’s stock are sold short. Based on an average trading volume of 3,385,279 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Wellchange in a report on Tuesday, August 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Wellchange has a consensus rating of “Sell”.

Hedge Funds Weigh In On Wellchange

A hedge fund recently bought a new stake in Wellchange stock. Citadel Advisors LLC acquired a new stake in Wellchange Holdings Company Limited (NASDAQ:WCT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 89,621 shares of the company’s stock, valued at approximately $32,000. Citadel Advisors LLC owned 0.19% of Wellchange as of its most recent SEC filing.

Wellchange Stock Performance

Shares of NASDAQ:WCT opened at $1.09 on Friday. Wellchange has a 12 month low of $0.38 and a 12 month high of $25.00. The company’s fifty day simple moving average is $0.99 and its 200 day simple moving average is $2.42.

Wellchange (NASDAQ:WCT) last announced its earnings results on Wednesday, May 13th. The company reported ($0.62) earnings per share (EPS) for the quarter. The company had revenue of $0.08 million during the quarter.

About Wellchange

Wellchange Holdings Company Limited, through its subsidiaries, operates as an enterprise software solution services provider in Hong Kong. The company provides tailor-made software solutions, cloud-based software-as-a-service (SaaS) solutions, and white-labelled software design and development services. The company also operates MR. CLOUD, a cloud-based SaaS enterprise resource planning software platform based on subscription services to support back-office and front-office functions, such as finance and accounting, procurement, manufacturing, inventory management, order management, warehouse management, supply chain management, customer relationship management, professional services automation, project and file management, human resources management, e-commerce, and marketing automation.