Short Interest in WeBuy Global Ltd. (NASDAQ:WBUY) Drops By 51.4%

WeBuy Global Ltd. (NASDAQ:WBUY) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 43,055 shares, a decline of 51.4% from the June 15th total of 88,648 shares. Based on an average daily trading volume, of 27,901 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

WeBuy Global Price Performance

Shares of NASDAQ WBUY opened at $0.81 on Thursday. WeBuy Global has a 1 year low of $0.64 and a 1 year high of $8.80. The firm has a 50-day moving average of $0.96 and a 200 day moving average of $1.12.

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