Short Interest in WORK Medical Technology Group LTD (NASDAQ:WOK) Declines By 74.5%

WORK Medical Technology Group LTD (NASDAQ:WOK) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 117,997 shares, a drop of 74.5% from the May 14th total of 462,339 shares. Currently, 1,180.0% of the shares of the stock are short sold. Based on an average trading volume of 116,523,069 shares, the days-to-cover ratio is presently 0.0 days.

WORK Medical Technology Group Stock Performance

Shares of WOK stock traded down $0.01 during trading on Thursday, reaching $0.09. The company’s stock had a trading volume of 29,885,738 shares, compared to its average volume of 28,188,285. The business has a fifty day moving average price of $1.00 and a 200-day moving average price of $54.26. WORK Medical Technology Group has a one year low of $0.08 and a one year high of $9,300.00.

Insiders Place Their Bets

In related news, major shareholder Financial Lp Hrt acquired 2,261,118 shares of the stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $0.11 per share, for a total transaction of $248,722.98. Following the transaction, the insider owned 2,647,299 shares of the company’s stock, valued at $291,202.89. The trade was a 585.51% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 7,967,837 shares of company stock valued at $913,344.

Institutional Trading of WORK Medical Technology Group

A hedge fund recently bought a new stake in WORK Medical Technology Group stock. Sabby Management LLC acquired a new position in WORK Medical Technology Group LTD (NASDAQ:WOK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group makes up about 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest position. Sabby Management LLC owned 590.89% of WORK Medical Technology Group as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of WORK Medical Technology Group in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About WORK Medical Technology Group

WORK Medical Technology Group Ltd. engages in developing health instruments. It manufactures and sells medical devices, including endotracheal tubes, laryngeal mask airways, heat and moisture exchanging filters, disposable breathing circuits, nebulizer kits, and yankauer suction sets. The company was founded on March 1, 2022 and is headquartered in Hangzhou, China.