Short Interest in Newater Technology Inc (NASDAQ:NEWA) Rises By 17.8%

Newater Technology Inc (NASDAQ:NEWA) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 94,200 shares, an increase of 17.8% from the January 15th total of 80,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 28,100 shares, the days-to-cover ratio is currently 3.4 days.

An institutional investor recently raised its position in Newater Technology stock. State Street Corp raised its stake in shares of Newater Technology Inc (NASDAQ:NEWA) by 21.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,703 shares of the company’s stock after buying an additional 2,777 shares during the quarter. State Street Corp owned about 0.15% of Newater Technology worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 1.27% of the company’s stock.

Shares of NEWA traded down $0.08 during mid-day trading on Friday, reaching $3.69. The stock had a trading volume of 2,130 shares, compared to its average volume of 62,264. Newater Technology has a 12 month low of $3.00 and a 12 month high of $9.10. The business has a fifty day moving average of $3.72 and a 200 day moving average of $5.24.

About Newater Technology

Newater Technology, Inc is a wastewater purification treatment company. The Company is focused on the development, manufacture and sale of disk tube reverse osmosis (DTRO) and disk tube nanofiltration (DTNF) membrane filtration products that are used in the treatment, recycling and discharge of wastewater.

Further Reading: Hedge Funds Explained

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