Wearable Devices (NASDAQ:WLDS) Shares Up 16.4% – Time to Buy?

Shares of Wearable Devices Ltd. (NASDAQ:WLDS) shot up 16.4% during trading on Monday . The company traded as high as $3.33 and last traded at $2.98. 983,023 shares were traded during trading, The stock had previously closed at $2.56.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Wearable Devices in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Wearable Devices Stock Down 9.1%

The company has a 50 day moving average of $2.19 and a 200-day moving average of $4.39.

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 stake in Wearable Devices Ltd. (NASDAQ:WLDS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 376,202 shares of the company’s stock, valued at approximately $429,000. Armistice Capital LLC owned approximately 6.31% of Wearable Devices as of its most recent filing with the Securities & Exchange Commission. 0.24% of the stock is currently owned by institutional investors and hedge funds.

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.