Wearable Devices Ltd. (NASDAQ:WLDS – Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 162,838 shares, a drop of 37.6% from the July 30th total of 260,817 shares. Approximately 13.8% of the shares of the company are short sold. Based on an average trading volume of 1,380,708 shares, the days-to-cover ratio is presently 0.1 days.
Hedge Funds Weigh In On Wearable Devices
A hedge fund recently bought a new position in Wearable Devices stock. Armistice Capital LLC acquired a new stake in shares of Wearable Devices Ltd. (NASDAQ:WLDS – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned approximately 6.31% of Wearable Devices at the end of the most recent quarter. 0.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on WLDS. Weiss Ratings reissued a “sell (e+)” rating on shares of Wearable Devices in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Wearable Devices from a “hold” rating to a “sell” rating in a report on Sunday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Wearable Devices has a consensus rating of “Sell”.
Wearable Devices Price Performance
Shares of WLDS stock opened at $2.27 on Monday. The company’s fifty day simple moving average is $2.32 and its two-hundred day simple moving average is $3.58. Wearable Devices has a 1 year low of $1.30 and a 1 year high of $102.60.
Wearable Devices (NASDAQ:WLDS – Get Free Report) last announced its quarterly earnings results on Monday, August 24th. The company reported ($1.75) earnings per share for the quarter. The firm had revenue of $0.17 million during the quarter.
Wearable Devices Company Profile
Wearable Devices Ltd. engages in the development of a non-invasive neural input interface for controlling digital devices using subtle touchless finger movements. The company offers Mudra development kits that enable users to control digital devices, including consumer electronics, smart watches, smartphones, AR glasses, VR headsets, televisions, personal computers and laptop computers, drones, robots, and others through finger movements and hand gestures; and SNC sensor module, an operating system (OS) software package and algorithm package to customers.
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