WeTrade Group Inc. [NASDAQ: WETG] stock went on a downward path that fall over -3.45% on Monday, amounting to a one-week price decrease of less than -5.88%. The company report on November 21, 2022 that WeTrade Group Inc. Announces US$120 Million Agreement with Vmade Tech PTE. LTD for Launching Operation of WTPay Technology Tools in Singapore.
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WeTrade Group Inc. (“WeTrade” or the “Company”) (NASDAQ: WETG), a global diversified “software as a service” (“SaaS”) technology service provider committed to providing technical support and digital transformation tools for enterprises across different industries, today announced that the Company has entered into a technical agency (commission) agreement (the “Agreement”) with Vmade Tech PTE. LTD (“Vmade”), under which Vmade commits to implementing the actual operation of WTPay technology tools in Singapore. WTPay technology is independently developed by the Company and designed to realize the commercial application of WTPay system which supports multiple methods of online payment from customers, including Wechat Pay, Alipay, Visa, Master Card, local E-wallets and mainstream digital wallets in many countries.
Pursuant to the Agreement, the Company agrees to entrust WTPay technology tools to Vmade in Singapore and send the full set of related materials in a complete and accurate manner, including technical documents, technical tool functions, technical tool guidance and repair. Vmade agrees to implement the actual application and system operation of WTPay system for small and micro customers in Singapore. For consideration, Vmade agrees to pay the Company the cooperation remuneration for the actual flow (GMV) generated during the operation period in the actual agent operation in Singapore in accordance with certain classification proportion. Vmade agrees to pay the Company total remuneration for cooperation of not less than US$120 million for the period from October 1, 2022, to December 31, 2024.
Over the last 12 months, WETG stock dropped by -87.56%.
The market cap for the stock reached $225.93 million, with 283.39 million shares outstanding and 62.13 million shares in the current float. Compared to the average trading volume of 1.40M shares, WETG stock reached a trading volume of 6165738 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on WeTrade Group Inc. [WETG]:
The Average True Range (ATR) for WeTrade Group Inc. is set at 0.19, with the Price to Sales ratio for WETG stock in the period of the last 12 months amounting to 19.48. The Price to Book ratio for the last quarter was 22.40, with the Price to Cash per share for the same quarter was set at 0.04. Price to Free Cash Flow for WETG in the course of the last twelve months was 94.14 with Quick ratio for the last quarter at 4.60.
WETG Stock Performance Analysis:
WeTrade Group Inc. [WETG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.88. With this latest performance, WETG shares dropped by -1.75% in over the last four-week period, additionally sinking by -76.12% over the last 6 months – not to mention a drop of -87.56% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WETG stock in for the last two-week period is set at 45.19, with the RSI for the last a single of trading hit 46.95, and the three-weeks RSI is set at 41.65 for WeTrade Group Inc. [WETG]. The present Moving Average for the last 50 days of trading for this stock 1.0493, while it was recorded at 1.1680 for the last single week of trading, and 4.6707 for the last 200 days.
Insight into WeTrade Group Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and WeTrade Group Inc. [WETG] shares currently have an operating margin of +41.68 and a Gross Margin at +81.10. WeTrade Group Inc.’s Net Margin is presently recorded at +35.99.
Return on Equity for this stock inclined to 44.19, with Return on Assets sitting at 31.36.
WeTrade Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.
WeTrade Group Inc. [WETG] Insider Position Details
There are presently around $2 million, or 1.10% of WETG stock, in the hands of institutional investors. The top three institutional holders of WETG stocks are: INVESCO LTD. with ownership of 1,839,536, which is approximately New of the company’s market cap and around 68.14% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 167,134 shares of the stock with an approximate value of $0.19 million in WETG stocks shares; and EXODUSPOINT CAPITAL MANAGEMENT, LP, currently with $34000.0 in WETG stock with ownership of nearly New of the company’s market capitalization.
9 institutional holders increased their position in WeTrade Group Inc. [NASDAQ:WETG] by around 2,119,028 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 2,119,028 shares, according to the latest SEC report filing. WETG stock had 9 new institutional investments in for a total of 2,119,028 shares, while 0 institutional investors sold positions of 0 shares during the same period.