Short Interest in Wearable Devices Ltd. (NASDAQ:WLDS) Grows By 88.8%

Wearable Devices Ltd. (NASDAQ:WLDS) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 399,320 shares, a growth of 88.8% from the April 15th total of 211,559 shares. Based on an average trading volume of 13,605,027 shares, the short-interest ratio is currently 0.0 days. Approximately 11.3% of the shares of the stock are sold short.

Institutional Trading of Wearable Devices

A hedge fund recently bought a new stake in Wearable Devices stock. Armistice Capital LLC acquired a new position in Wearable Devices Ltd. (NASDAQ:WLDS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Wearable Devices Stock Performance

Shares of WLDS traded down $0.07 during midday trading on Monday, hitting $0.87. The stock had a trading volume of 207,880 shares, compared to its average volume of 1,713,544. Wearable Devices has a twelve month low of $0.85 and a twelve month high of $34.20. The company has a 50 day simple moving average of $1.37 and a two-hundred day simple moving average of $3.26.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WLDS shares. Wall Street Zen upgraded shares of Wearable Devices from a “strong sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Wearable Devices in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Wearable Devices currently has a consensus rating of “Sell”.

About Wearable Devices

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.