Short Interest in UTime Limited (NASDAQ:WTO) Declines By 55.8%

UTime Limited (NASDAQ:WTO) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 306,900 shares, a decline of 55.8% from the February 28th total of 694,100 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average daily trading volume, of 674,700 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On UTime

An institutional investor recently bought a new position in UTime stock. XTX Topco Ltd acquired a new position in UTime Limited (NASDAQ:WTO) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 120,771 shares of the company’s stock, valued at approximately $38,000. XTX Topco Ltd owned approximately 0.67% of UTime as of its most recent SEC filing. Institutional investors and hedge funds own 1.07% of the company’s stock.

UTime Stock Performance

UTime stock opened at $0.15 on Friday. The stock’s 50 day moving average price is $0.25 and its 200 day moving average price is $0.34. UTime has a 1-year low of $0.14 and a 1-year high of $62.25.

UTime’s stock is scheduled to reverse split before the market opens on Monday, March 31st. The 1-10 reverse split was announced on Wednesday, March 26th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, March 28th.

About UTime

UTime Limited, together with its subsidiaries, designs, develops, manufactures, sells, and operates mobile phones, accessories, and related consumer electronics. The company offers consumer electronics, such as power banks, bluetooth speakers, batteries, chargers, cell phone parts, molds, and shells.