Short Interest in Wearable Devices Ltd. (NASDAQ:WLDS) Drops By 37.6%

Wearable Devices Ltd. (NASDAQ:WLDS) saw a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 162,838 shares, a decline of 37.6% from the July 30th total of 260,817 shares. Currently, 13.8% of the company’s stock are short sold. Based on an average daily trading volume, of 1,380,708 shares, the short-interest ratio is currently 0.1 days.

Wearable Devices Price Performance

NASDAQ:WLDS traded down $0.06 during mid-day trading on Tuesday, reaching $2.19. The stock had a trading volume of 9,757 shares, compared to its average volume of 1,024,664. Wearable Devices has a twelve month low of $1.30 and a twelve month high of $102.60. The business has a 50 day simple moving average of $2.33 and a 200 day simple moving average of $3.54.

Wearable Devices (NASDAQ:WLDS) last issued its earnings results on Monday, August 24th. The company reported ($1.75) earnings per share (EPS) for the quarter. The firm had revenue of $0.17 million during the quarter.

Institutional Investors Weigh In On Wearable Devices

An institutional investor recently bought a new stake in Wearable Devices stock. Armistice Capital LLC purchased a new position in shares of Wearable Devices Ltd. (NASDAQ:WLDS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned 6.31% of Wearable Devices as of its most recent SEC filing. 0.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Wearable Devices in a research report on Wednesday, June 24th. Wall Street Zen downgraded 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, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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.