Euro Tech Holdings Company Limited (NASDAQ:CLWT) Sees Significant Decrease in Short Interest

Euro Tech Holdings Company Limited (NASDAQ:CLWT) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 4,300 shares, a drop of 45.6% from the February 13th total of 7,900 shares. Based on an average trading volume of 14,100 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

Euro Tech Price Performance

CLWT stock traded down $0.08 during mid-day trading on Friday, reaching $1.31. The company had a trading volume of 23,291 shares, compared to its average volume of 11,629. The firm has a fifty day simple moving average of $1.31 and a 200 day simple moving average of $1.44. Euro Tech has a fifty-two week low of $1.11 and a fifty-two week high of $1.94.

Euro Tech announced that its board has initiated a share repurchase plan on Thursday, February 20th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Euro Tech

An institutional investor recently bought a new position in Euro Tech stock. Garden State Investment Advisory Services LLC purchased a new stake in Euro Tech Holdings Company Limited (NASDAQ:CLWT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 312,338 shares of the company’s stock, valued at approximately $509,000. Garden State Investment Advisory Services LLC owned approximately 4.05% of Euro Tech at the end of the most recent reporting period. 2.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Euro Tech in a research report on Monday, March 10th. They issued a “sell” rating on the stock.

Euro Tech Company Profile

Euro Tech Holdings Company Limited primarily distributes water treatment equipment, laboratory instruments, analyzers, test kits and related supplies, and power generation equipment to commercial customers, and governmental agencies in Hong Kong and the People's Republic of China. The company operates in two segments, Trading and Manufacturing, and Engineering.