Wearable Devices Ltd. (NASDAQ:WLDS) Short Interest Down 37.6% in August

Wearable Devices Ltd. (NASDAQ:WLDS) was the target of a large decrease in short interest in August. As of August 14th, there was short interest totaling 162,838 shares, a decrease 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 trading volume of 1,380,708 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Wearable Devices

A hedge fund recently bought a new position in Wearable Devices stock. Armistice Capital LLC acquired a new stake in Wearable Devices Ltd. (NASDAQ:WLDS) in the fourth quarter, according to the company in its most recent Form 13F filing 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 about 6.31% of Wearable Devices at the end of the most recent reporting period. Institutional investors and hedge funds own 0.24% of the company’s stock.

Wearable Devices Price Performance

NASDAQ:WLDS opened at $2.23 on Wednesday. Wearable Devices has a 12-month low of $1.30 and a 12-month high of $102.60. The stock’s 50 day simple moving average is $2.33 and its 200-day simple moving average is $3.50.

Wearable Devices (NASDAQ:WLDS) last announced its quarterly earnings data on Monday, August 24th. The company reported ($1.75) EPS for the quarter. The company had revenue of $0.17 million for the quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Wearable Devices in a report on Wednesday, June 24th. Wall Street Zen lowered shares of Wearable Devices from a “hold” rating to a “sell” rating in a research note on Sunday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Wearable Devices has an average 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.