Westaim Corp. (OTCMKTS:WEDXF) Sees Significant Decrease in Short Interest

Key Points

• Westaim Corp. experienced a significant 94.0% drop in short interest, from 23,500 shares to just 1,400 shares as of September 15th.
• As of midday trading on Tuesday, Westaim's stock increased by $0.43 to reach $20.76, with a total trading volume of 450 shares.
• In its recent earnings report, Westaim beat analyst estimates with an EPS of ($0.01), against a consensus estimate of ($0.17), resulting in revenue of $10.50 million for the quarter.

Westaim Corp. (OTCMKTS:WEDXF - Get Free Report) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 1,400 shares, a drop of 94.0% from the August 31st total of 23,500 shares. Based on an average daily trading volume, of 5,700 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 5,700 shares, the short-interest ratio is currently 0.2 days.

Westaim Price Performance

WEDXF stock traded up $0.43 during midday trading on Tuesday, reaching $20.76. 450 shares of the company were exchanged, compared to its average volume of 4,836. The firm has a market capitalization of $696.71 million, a price-to-earnings ratio of -14.83 and a beta of 0.19. The business has a 50-day moving average price of $20.99 and a two-hundred day moving average price of $21.95. Westaim has a one year low of $17.46 and a one year high of $25.98.

Westaim (OTCMKTS:WEDXF - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.16. Westaim had a negative net margin of 118.02% and a negative return on equity of 5.51%. The business had revenue of $10.50 million for the quarter, compared to analyst estimates of $1.46 million.

Westaim Company Profile

The Westaim Corporation is a private equity firm specializing in direct and indirect investments through acquisitions, joint ventures, secondary investments both direct and indirect, fund of fund investments, and other arrangements. For direct investments, the firm invests in early venture, mid venture, late venture, middle market, later stage, mature, emerging growth, PIPEs, and buyout transactions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.